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Wednesday, May 25, 2022

Sundial Growers Inc. (SNDL) Stock Roaring in Aftermarket, Here’s What you Should Know.

Sundial Growers Inc. (SNDL) is a leader in the manufacture of small-batch cannabis employing its innovative indoor systems. It offers a premium consumer care experience and a top-quality cannabis-derived product line. The company operates under three segments including Retail, Operations, and Investments.


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SNDL stock price during the regular trading session of March 22, 2022, jumped by 10.01% to be $0.58. Its price further rose as of the writing in the aftermarket session by 9.44%.

SNDL: Events and Happenings

On March 10, 2022, SNDL updated on announcing its fourth-quarter and full-year financial results for the year ended December 31, 2021, on March 29, 2022. It will host a conference call the following day.

On February 25, 2022, SNDL and Alcanna Inc. reported on their mutual agreement to extend the outside date for the closure of the transaction anticipated under the transaction contract between both the companies dated October 7, 2021, and modified on January 6-March 30, 2022, in agreement with terms of the contract. On February 8, 2022, SNDL announced the receipt of a 180-days extension to regain its compliance with Nasdaq’s least bid price obligation.

SNDL: Key Financials

SNDL issued its consolidated financials on November 11, 2021, for Q3 2021 ended September 30, 2021. Some key highlights are as follows.

Revenue

net revenue during the third quarter of 2021 was C$14.3 million in comparison to C$12.8 million in the comparable quarter of 2020. Its gross revenues declined over the year along with missing the revenue estimates by US$1.39 million.

EPS

Net income (diluted) per share during the third quarter of 2021 was C$11.3 million or C$0.005 corresponding to a net loss of C$71.4 million pr C$0.53 during the comparable quarter of 2020. Its actual EPS remained in line with the estimations.

Conclusion

SNDL stock touched a new low of 50% in the past year as an impact of economic pressure associated with the pandemic. The current stock gain by the company is likely associated with the broader rally in the meme stock as the extrinsic factors are at play. Also, the earnings release date is approaching for the company and the revenue estimations are US$13.8 million.

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