Sundial Growers is a Canadian marijuana company with a market capitalization of $985.298M. Its stock was worth $0.478 in the last regular trade on a volume of $92,940,018. It has been falling since February last year when the price was $2. In the last month alone, the cost has plummeted 24%, 14% of which occurred only in the last 5 business days. On January 21, the stocks of companies in the marijuana industry also fell. Thus, Curaleaf Holdings, Green Thumb Industries, Hexo dropped 4.8%, 5%, and more than 7%, respectively.
January 20 this year marks exactly one year since the inauguration of Joe Biden, and this further increased the anxiety of those who are looking forward to the legalization of marijuana at the federal level, because progress in passing this bill hasn’t yet been observed. Canadian cannabis producers, including Sundial Growers and Hexo, can’t operate in the US until legalization occurs. With the passage of this law, they would enter the US market, which would contribute to the improvement of the business. However, Sundial and Hexo have seen their net sales growth for 57 percent and 29 percent respectively in recent times.