Sundial Growers (NASDAQ:SNDL) stock is on the move Tuesday as investors send shares of the marijuana stock on a wild ride. The stock started off the day up with strong positive movement before diving below yesterday’s closing price and then rising again.
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Here’s what potential investors in SNDL stock need to know this week.
- To start with, the company announced a strategic partnership on Monday with SAF Opportunities LP.
- The two will form a 50/50 split joint venture named SunStream Bancorp Inc.
- This new company will be focused on investment opportunities in the cannabis market.
- That includes looking for investments in Canada and international markets.
- The first mandate for the company is the creation of a special opportunities fund.
- Third parties are contributing to this fund and Sundial Growers is putting $100 million into it as well.
- The joint venture will also move forward with other mandates, which could include the creation of a special purpose acquisition company (SPAC) in Canada.
- It’s also worth noting that Sundial Growers is preparing to release its Q4 and 2020 full-year earnings report on Wednesday.
- The earnings report will drop after the market closes tomorrow.
- SNDL will hold a conference call at 10:30 a.m. Eastern Time the following day to discuss the results.
- Wall Street is looking for losses per share of 6 cents on revenue of $12.07 million for the quarter.
SNDL stock was up 2.5% as of Tuesday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
