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.
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.