Not too long ago, companies producing cannabis for medicinal purposes began to gain momentum at the same time as legalizing it. One of such companies is Sundial Growers. From the beginning of the year, the stock valuation has been on a significant increase, especially during the last week. Moreover, for today’s trading session, SNDL stock has gained more than 2%. After the legalization in Canada in 2018, the companies that sell and produce cannabis started to surge.
The recent positive change of the Sundial Growers’s stock is caused by the latest announcement that the company has joined into the documentation in respect of a $100M. Along with it, Sundial Growers has sponsored SunStream Bancorp for $40M. Moreover, the most recent acquisition of the company is the Canada-based liquor maker Alcana, which owns 63% of Nova Cannabis.