Has This Growth Stock Turned Its Business Around?
SNDL (NASDAQ: SNDL) has undergone a name change (it was previously knows as Sundial Growers) and multiple acquisitions over the past year and a half. Unable to rely on its own organic growth, the cannabis producer has extended its reach into the alcohol industry, and it now also operates retail pot shops across Canada.
The company recently posted its quarterly earnings numbers, which showed a mammoth increase in sales. Has SNDL turned a corner and become a better buy, or is this still too risky of a stock for investors to be buying?
SNDL's revenue in the second quarter totaled 223.7 million Canadian dollars for the period ending June 30. That represents a year-over-year growth rate of 2,344%. It's an eyepopping amount, the kind of growth rate I haven't seen since the early stages of legalization in Canada, when new recreational sales were making all pot stocks look like growth machines.
Source Fool.com
