SNDL Rises After an Agreement With Alcanna

The SNDL stock price fluctuated between $0.6711 and $0.7448 throughout the trading session with the volume trading being 221M shares, which represented a positive variation when compared to the three months average volume of 85M shares.

The share price of Sundial Growers Inc. (NasdaqCM:SNDL) ran up 5% to close Friday’s market session at $0.6804, higher as compared to yesterday’s close which brings the market valuation of the company to $1.27B.

The 52-week high for the Sundial Growers Inc.’s shares is $3.9600. That puts it -82.82% from that peak but still a great gain since the share price dropped to a 52-week low of $0.1380, while the S&P 500’s share price change was of 29.3%.

What does the trading volume tell us about the SNDL stock?

During the last trading session, Sundial Growers Inc. (NasdaqCM:SNDL) has seen growth in its daily volume. The daily volume was of 85M, while in the last 10 days the average was 96.73M and last three months – 84.86M.

The increasing interest in the SNDL stock from the investors is helping to drive the stock price up.

Growing short interest

The Sundial Growers Inc.’s shares are seeing an increasing short interest compared to the previous month. As of today, there are 283.66M shares being shorted which translates into 2.85 of a short ratio for SNDL, while in the previous month the shorted shares were 264.78M.

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Sundial Growers Inc.’s (NasdaqCM:SNDL) financials

With a market cap of 1.27B, Sundial Growers Inc. holds a total cash of $985.89M that translates into $0.48 per share, while the total debt is of $1.22M.

The company has seen a decrease in the revenue with a year-over-year quarterly revenue growth percentage of -54.70%. The current revenue is of $45.76M that is $0.05 per share.

This is a not so good sign for the future.