At this point in time, Sundial Growers Inc (NASDAQ:SNDL) is one of the more keenly followed stocks in the cannabis sector. This past Friday the company announced its financial results after the closure of markets and the numbers did not seem to impress the investors much.
The stock suffered from a selloff and ended the day with a decline of as much as 9%. In this regard, it should be noted that for much of the past year, the company has been raising capital with the view of restructuring its business. Sundial is looking to become a company that aims to bring about growth through acquisitions.
However the financial results for the latest reported quarter did not give investors much joy to investors in terms of any progress. After all the company increased its share count to more than 1 billion in order to raise fresh capital and that had led to considerable dilution in the stock.
In the second quarter, the company made a loss when adjusted for EBITDA and that came as a significant setback for many investors. In the first quarter, the company had reported a positive EBITDA for the first time in its history. It now remains to be seen if the stock can actually make a recovery this week.
