Sundial Growers Stock Forecast 2022
Sundial Growers stock is a Canadian cannabis company. It’s a vertically-integrated cannabis company. This means they’re involved in all aspects of the cannabis business from seed to sale. The company’s main offerings include dried cannabis, cannabis oils, and pre-rolled joints. Sundial Growers (Nasdaq: SNDL) also had a presence in the U.K. hemp market. They did this through their subsidiary, Sundial Bridge Farm Inc. And recently, they were able to sell this great asset. Keep reading for an in-depth analysis of Sundial Growers stock forecast.
Sundial Growers went public on the Nasdaq in August 2019 at a price of $10.45 per share. Since then, the stock has been on a roller coaster ride. It reached a high of $11.50 that August and then fell to a low of $0.14 in October 2020. They’ve been struggling to turn a profit since going public. And in the first quarter of 2019, the company reported a net loss of $23 million.
Despite the challenges, Sundial Growers stock is large. In fact, it’s one of the largest cannabis companies in Canada, by market capitalization. And its stock is still worth watching, especially for investors interested in the cannabis industry. This stock could be a big player in the global cannabis market.
Sundial Growers Stock Earnings
Sundial Growers is a publicly traded Canadian company that produces and sells cannabis products. They are a licensed producer of cannabis under the Cannabis Act. And it operates facilities in Rocky View County, Alberta.
Sundial’s stock has been on a roller coaster ride over the past year, and it looks like the ride isn’t over yet. After reaching a high of $11.50 per share, Sundial’s stock price fell to a low of $0.14 per share in October 2020. Since then, the stock has recovered somewhat, but it still remains well below its 52-week high.
Looking ahead, Sundial Growers stock price will likely continue to be volatile. The company is still in the initial stages of its development. And the cannabis industry as a whole is a bit uncertain. Sundial’s stock price will likely be influenced by news about the global cannabis industry. And, the company’s own performance.
They’ve experienced impressive growth in both its top and bottom line over the past year. The company’s revenue grew by 63% year-over-year (YOY) in 2021. Sundial’s strong financial performance has continued into 2022. And the company reported record revenue and earnings in its most recent quarter.
Sundial’s stock price is down more than 64% from its 52-week high. But the company’s fundamentals remain strong. Sundial is well-positioned to grow continually in the global cannabis market. And, its stock price is likely to rebound in the coming months.
Sundial Growers is gearing up to report its quarterly earnings. In August, investors will find out if the company’s stock price will continue to rise. Sundial has been on a bit of a bear over the past year.
Investors will be looking for Sundial to continue its robust performance. The company reported healthy 2022 Q1 results. They also announced that they’d entered into an agreement. And this agreement was to supply cannabis products to Aurora Cannabis in the Canadian adult-use market.
Sundial Growers stock future results are likely to continue. They’ll be bolstered by the continued rollout of its products. That is, those in the Canadian adult-use market and the launch of its products in the U.S. CBD market. Sundial has already secured supply agreements with many leading retailers in the U.S., including CVS Health and Walgreens Boots Alliance.
Sundial’s strong performance in recent quarters has caused its stock price to surge. And investors will be looking for more of the same. Especially when the company reports its first-quarter results. Analysts expect Sundial to report $769 million in revenues for 2022. Sundial’s stock price could continue to rise, especially if the company meets or beats these expectations.
Sundial Growers Stock Market Cap
Sundial Growers has seen its stock price increase and fall since going public in August of 2019. The Canadian cannabis company has a market cap of $1.1 billion as of October 2020. And this figure makes it a big player. But it also allows for growth, which is great for investors and the company.
Sundial Growers stock is focusing on expanding. The company has partnerships with pharmaceutical giant Bayer AG. And home improvement retailer Lowe’s.
And, their stock price has been volatile in 2020. It’s carried some of that into 2021, also. But their strong fundamentals and growth prospects make it an attractive long-term investment.
Sundial Growers Stock Forecast
Sundial Growers is a strong company with good prospects for continued growth. But, its stock price has been incredibly low the past year or so. Sundial is a good company to invest in for the long-term. The stock may be a bear in the short term, but I believe it will rebound eventually.
It is a good company to keep an eye on. And, its stock price is likely to rebound in the coming months. If you’re interested in the speculative CBD industry? Sundial is worth considering for your portfolio.
Sundial Growers stock forecast is set to enjoy the growth of the global cannabis market. And Sundial’s stock price has tanked. But the company’s strong fundamentals and growth prospects make it a great investment.
And, the low price makes it a great option for growth in the future. If the company can adapt to the market, they could do very well in the future.
About Vanessa Adelman
Vanessa Adelman graduated with an Interdisciplinary degree. She majored in Entrepreneurship, Painting, Music and Film. Shortly after, she received a copywriting mentorship with Mark Morgan Ford. Then, she earned her AWAI Verification. Now, Vanessa freelances in the financial direct response industry. She’s been investing since 2016. In her free time, she enjoys books about money and wealth. She loves being with her boyfriend, hunting, fishing and going on outdoor adventures.