Sundial Growers (NASDAQ:SNDL) is seeing massive gains to SNDL stock on heavy trading Friday despite no new news about the company.
Trading of SNDL stock early today has seen it move more than 417 million shares as of this writing. That’s a major jump from the company’s average daily trading volume of about 22 million shares.
With all this movement, investors will no doubt want to know more about the company. Luckily, there’s a quick list of details for Sundial Growers below.
- Starting off, Sundial Growers is a company focused on growing cannabis if the name didn’t already give that away.
- Its goal is to provide customers with the best quality cannabis with the help of experts in the growing field.
- The company’s partners include the University of Saskatchewan, University of Calgary, Inplanta Biotechnology, PlantBiosis, Town of Olds and Olds College.
- Sundial Growers operates several different brands that it sells its cannabis products through.
- That includes Sundial, Top Leaf, BC Weed Co., Palmetto, and Grasslands.
- The company’s current market cap is sitting at $90.99 million.
So what exactly has SNDL stock soaring higher today? The increase to the stock likely has to do with the ongoing presidential election in the U.S. Presidential candidate Joe Biden has been gaining a lead over sitting President Donald Trump.
A core part of Biden’s campaign has been to decimalize marijuana at a federal level. This has seen boosts to stocks for other marijuana companies that could benefit from a Biden win.
SNDL stock was up 63.8% as of Friday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
