Sundial Growers Stock Price Rises: Is It Possible To Legalize Marijuana At The Federal Level?

Sundial Growers is a company that produces cannabis and distributes products such as vapes and pre-rolls under a variety of brands. The biggest success in the last half-year came with the purchase of Alcanna, which operated the liquor and marijuana stores; as a result, the SNDL price climbed to $ 92. However, the current worth is $ 0.59 with a market capitalization of $ 1.227 billion. According to the weekly chart, the maximum price was fixed on January 5 at $ 0.65, and the minimum one was $ 0.56.

On January 7, cannabis stocks rose. So, in addition to SNDL, Canopy Growth (CGC) and Tilray (TLRY) grew by 5% and 2%, respectively. Apparently, attention was drawn to the fact that this business can bring a lot of money to the government when legalized. According to a report from MarijuanaMoment.net, states have raised about $ 10.4 billion in tax revenue from their sales since legalizing the product, excluding sales of medical marijuana. This large amount helped finance vital public services and programs. Thus, such cases and examples may become the reason for the legalization of cannabis at the federal level in the United States. This is likely to make most marijuana companies profitable. Please note that the above is only an assumption and before buying you should do your own thorough analysis.