We are seeing a plunge in the Sundial Growers Inc. (SNDL stock) shares by a percentage of -7.12%, trading at $0.8898 per share in pre-market at the last check. Previously, the trading session of SNDL stock closed on Thursday at $0.96 gaining 7.64%. In the past 50 days, the average daily volume of the stock traded at 210.62 million while the SNDL stock volume today remained 164.87 million shares, positing a lower volume of trade. In the past year up-to-date SNDL stock jumped up 24.42% and in the past week, it boosted by 0.84% in. In the past three and six months, the stock has shed -4.20% and added 77.57%. Further, the company is currently valued in the market at $1.95 billion and outstanding shares of the Sundial stood at 1.86 billion.
All you need to know about Sundial Growers Inc.
Sundial Growers Inc. is a drug manufacturing company that specifically specializes in cannabis products. The company produces as well as markets these cannabis products specifically for the use of adults. SNDL stock has established the market for its operations in Canada. The diverse set of cannabis and cannabis-related products include inhalable products that are categorized into KPIs such as flower, pre-rolls, and vapes. These product offerings are sold under the various brands of the company including Sundial Cannabis, Palmetto as well as Grasslands brands. The company has its origin in the year 2006 and has based its headquarters in Calgary of Canada.
Sundial Growers Inc. is expanding its investment in the Cannabis industry through SunStream Bancorp.
The cannabis producing company, SNDL stock has 448,000 square feet of state-of-the-art available space for its cannabis cultivation and cannabis production. However, this is not the only operating segment of the company as it also focuses on investments. This investment portfolio is strategized on deploying capital through direct and indirect investments as well as partnerships. The company is actively partnering up in the global cannabis industry to increase its overall profitability and market cap.
For this particular reason, Sundial Growers Inc. has partnered up with SAF Group for a strategic joint venture in the global cannabis industry. This partnership benefits both companies as it leverages financial and operational partnerships strategically for the targeting of a diversely set of enhanced risk-return opportunities. These opportunities are purely related to the cannabis industry and aims to provide increased exposure to a portfolio of attractive debt, equity, and hybrid investments that increase the long-term success of such investments.
Initially, Sundial Growers Inc. had announced that it was focusing on a commitment of C$188 million to SunStream Bancorp Inc. SunStream is the name of the previously mentioned Joint-Venture with SAF group. There is substantial growth in the cannabis industry as regulatory approvals ease down and licensing expansion cause a growth in the Cannabis market. SNDL stock is definitely banking on this future optimistic growth and has now planned to invest an increased commitment by C$350 million to C$538 million in total for SunStream Bancorp Inc.