Since going public, Sundial Growers Inc (SNDL) stock price has declined. The company went public back in 2019. The stock hit its lowest price of $0.14 on October 30, 2020. As the time of writing, after a long time, Sundial Growers Inc (SNDL) stock price has risen by 0.90% in current-market trading Thursday.
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Recently, the company declared that they had got an extension of 180 days to regain compliance with Nasdaq’s minimum bid price requirement. This news has a positive impact on the investors, and they are optimistic about the company’s future. Meanwhile, the latest consensus estimate predicts revenue of $17.28 million, which is 62.56% greater than the prior-year quarter’s.
In 2020, the company had split its stock from 105 million shares to more than 2 billion shares. Nasdaq asked the SNDL that the bid price of its common stocks did not align with Nasdaq’s minimum bid price requirement On August 9, 2021. Following that, Nasdaq gave them the extension till February 7, 2022. For avoiding delisting, a company should keep its share to $1 for at least ten consecutive trading days. While on the contrary, the company has not even touched the $1. Moreover, SNDL stock has been trading under $1 for a year now.
Comprehensively, global cannabis industry revenue is shrinking 20% year on year. It seems like investors are not investing heavily in the cannabis industry. In spite of that, sudden bob came in the Canopy Growth, also prove good for the SNDL, but they need to work hard to satisfy the investors.
Conclusion
The analyst is revising their estimates. Furthermore, not only they are hopeful about the SNDL’s future, but they also recommend holding the stock. However, investors might look at Sundial Growers Inc.’s (SNDL) risk, such as sustainability and profitability, funds for the future, and much more – which will harm the going concern concept of a company.
