SNDL

 SNDL price link 

Sundial Growers

Company

Headquarters: Calgary, Canada

Founded: 2006

Subsidiaries: Pathway RX Inc, Sundial UK Limited, Kamcan Products Inc., 2082033 Alberta Ltd.

 

To see how InvestorsObserver's proprietary scoring system rates these stocks, view the InvestorsObserver's PriceWatch Alert by selecting the corresponding link.

• SNDL: https://www.investorsobserver.com/lp/pr-stocks-lp-2/?stocksymbol=SNDL&prnumber=012920215
• MUX: https://www.investorsobserver.com/lp/pr-stocks-lp-2/?stocksymbol=MUX&prnumber=012920215
• AG: https://www.investorsobserver.com/lp/pr-stocks-lp-2/?stocksymbol=AG&prnumber=012920215
• OTLK: https://www.investorsobserver.com/lp/pr-stocks-lp-2/?stocksymbol=OTLK&prnumber=012920215
• ERIC: https://www.investorsobserver.com/lp/pr-stocks-lp-2/?stocksymbol=ERIC&prnumber=012920215

 

 

What happened

Shares of Sundial Growers (NASDAQ:SNDL) soared on Wednesday in volatile trading. As of 3:15 p.m. EST, the popular marijuana stock's price was up more than 45%, after rising as much as 126.4% earlier in the day.

So what 

There is no fundamental reason why Sundial's stock price more than doubled this morning. The cannabis company didn't issue a press release or make any major announcements today. Instead, the likely culprit for today's massive price swings in Sundial's shares appears to be an attempt at a short squeeze. 

Sundial Growers raises $100M capital through registered offering

Jan. 29, 2021 6:52 AM ETSundial Growers Inc. (SNDL)By: Niloofer Shaikh, SA News Editor6 Comments

• Sundial Growers (NASDAQ:SNDL) has priced registered offering of 100M Series A Units, each consisting of one common share and one-half Series A Warrant to purchase one common share and 33,333,334 Series B Units, each consisting of one pre-funded Series B Warrant to purchase one common share and one-half Series A Warrant to purchase one common share.
• Each Series A Unit will be sold at $0.75/Series A Unit and each Series B Unit will be sold at $0.75/Series B Unit.
• The five-year Warrants will be exercisable at $0.80/share.
• The offering is expected to close on February 2.
• Net proceeds will be used for the financing of possible acquisitions of investments, equipment facilities, assets, equity or debt of other businesses, products or technologies and for working capital and general corporate purposes.
• Despite trading restrictions by Robinhood, Sundial shares up 4.8% premarket.
• Previously (Jan. 29): Do retail traders need protection? Reddit/WSB names resume rally