Sundial Growers (NASDAQ:SNDL) Stock Continues to See Selling Pressure

One of the cannabis companies that investors could consider looking into at this point in time is Sundial Growers (NASDAQ:SNDL). The Canadian company is one of the better known operators in the industry and although the company’s stock is current trading 70 cents a share, it might be a good idea for investors to take a closer look into Sundial.

In this context, it should be noted that if full legalisation of marijuana does happen in the United States then it could be a major positive trigger for the Sundial stock.

However, there is another factor at play that investors need to keep in mind. Sundial currently boasts of a cash balance of a staggering $862.5 million and if it manages to play its cards well then it could lead to considerable growth for the company. Moreover, such a cash balance is rare in the cannabis industry and hence, it could give the company a significant edge over its peers.

That being said, it cannot be denied that the stock is perhaps not something that investors are expected to go for if one solely looks at the fundamentals. However, the two factor could make the Sundial stock a risky but potentially rewarding binary bet.