Sundial Growers Inc (NASDAQ: SNDL) continued its downward trend last week as the stock fell another 10%.
The stock has been showing severe selling pressure ever since it had reversed from its 52-week high of $3.96 in early February. Over the past 2 months, the stock has lost 75%. In fact, the stock has shown a roller coaster ride so far this year. SNDL stock went up all the way from $0.55 to $3.96 in the first 6-week of trading as the “meme stock madness” pulled many traders- that’s a 620% jump in no time. However, the rally short-lived and those who chased the stock must be regretting after a severe reversal.
So will the stock come back later this year? Well, the only important upcoming catalyst for the stock is U.S. legalization. One may speculate the outcome, but looks like the legalization may take some time and we may see the stock hovering at the current price with high volatility.
Editor and Computer Expert
A hardcore tech enthusiast and computer expert Uson Abdilazhanov who holds a degree in communications started writing in his personal blogs since 2012. That time he was interested in the technical part of the computer. But now the software aspect plays an important role in his career. Currently, he runs a PC building and repairing shop which helps a lot of designers and gamers who always like to try new things.