SNDL Stock: What Reddit Is Saying About Sundial Growers as the Penny Stock Gains Momentum

After a tough past two days, shares of Sundial Growers (NASDAQ:SNDL) stock are slowly ticking higher on Friday morning.

multiple jars of different sizes carrying marijuana

Source: Shutterstock

The upward movement comes three days after the Canada-based cannabis company reported its earnings for the first quarter of fiscal year 2021. This included net revenue of 9.89 million CAD, which was a drop of 29% from the same time last year. However, the firm did report its first positive quarterly earnings from operations in its history. This figure came in at 1.7 million CAD compared to a loss from operations of 32.7 million CAD in the prior quarter.

That said, many people on Reddit have had plenty to say about this penny stock over the past few days. Thus, let’s dive in and take a closer look about comments regarding the SNDL stock earnings and more.

One user was particularly excited about the Sundial quarterly figures.

Another also liked the SNDL stock earnings, but explained a bit more about how the firm’s business model is paying off for investors.

On the other hand, some had memes ahead of Friday’s rise about how “buying the dip” can only go so far.

Also, one Redditor called SNDL stock the “worst move I have made in a long time,” but is still reluctant to sell.

Moreover, a thread from Reddit’s r/WallStreetBets went into deep depth regarding a Newsweek article, and how Sundial and other cannabis stocks would be affected.

SNDL stock was up 1.35% as of Friday morning.

On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Nick is a web editor at InvestorPlace.


Article printed from InvestorPlace Media, https://investorplace.com/2021/05/sndl-stock-what-reddit-is-saying-about-sundial-growers-as-the-penny-stock-gains-momentum/.

©2021 InvestorPlace Media, LLC