Sundial Growers Stock Rallies As Quarter Report Comes Out

For the third quarter of 2021, Sundial Growers Inc. reported financial and operational reports. These results are presented in CA$ millions and represent results from continuing operations. SNDL stock surges after the announcement of quarterly results by over 24% in pre-market, now costing $0.89 per share. Constant investments in crop yield stability with the help of a Sundial helped to maintain ideal conditions for crop production in 3Q21. Sundial’s continuous growth and success have raised the company’s weighted average potency to its highest level in 3Q21.

cannabis plantsSundial is pleased to announce the launch of its latest innovation which is Caviar Cones. This launch marks the company’s continued commitment to developing premium inhalable products that deliver superior performance. In the first few weeks after its launch, the product was the top-selling pre-roll in all Spiritleaf stores in Canada. The gross margin before interest, taxes, depreciation, and impairment adjustments for the three-month period ended September 30, 2021, was negative $4.9 million, compared to opposing $17.1 million for the same period in the previous year. The improvement in the gross margin was mainly due to a decrease in inventory obsolescence provision. The average gross selling price of branded products was $3.23 per gram in Q3 2021, up from $2.67 per gram in the same quarter of the previous year.

Anthony Gonzales

Biotech, Tech, and Crypto reporter Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.

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