Sundial Growers Inc (NASDAQ: SNDL) stock remains under pressure despite the recent price hike that has seen the stock gain about 3.2% this week and no wonder Wall Street analysts still give it an average rating of a sell. However, the recent price hike has seen it get clear of the $0.60 support that most analysts believe if broken would signal a strong sell.
To help stock traders eying the SNDL stock, Invezz has created a brief article on what SNDL stock is and the best place to buy it.
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What is SNDL stock?
SNDL is the stock of Sundial Growers Inc. and it trades on NASDAQ under the symbol NASDAQ: SNDL.
Sundial Growers Inc. is a Canadian company headquartered in Calgary. It engages in the production and sale of cannabis products.
The company was incorporated in the year 2006.
On Oct. 7 Sundial Growers Inc. announced that it had acquired “all of the issued and outstanding common shares†of Alcanna Inc.
Should I buy the SNDL stock today?
Although SNDL stock price has collapsed, it is probably the best time to buy especially after the recent price hike that could be a signal for the end of the long bearish trend and the beginning of a bullish trend.
SNDL stock price prediction
Sundial Growers has very strong growth prospects and it has made it clear that it is currently working on restructuring to ensure the revenue base expands to spur profits every year.
Analysts expect the stock to grow by about 1.06% over the next 12 months with their eyes set at $0.73.
Sundial Growers stock social media coverage
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