Is Sundial Growers Too Cheap to Pass Up?
Cannabis stocks, growth stocks, and all kinds of investments have been volatile this month. The S&P 500 is down nearly 2% since the start of September and the Horizons Marijuana Life Sciences ETF has dropped by 9%. Although some investors may feel the urge to scramble for the exits, the recent sell-off could present some attractive buying opportunities.
One stock investors may be considering is pot producer Sundial Growers (NASDAQ: SNDL). Earlier this year, Reddit investors turned it into a meme stock, creating a buying wave that sent it to a high of nearly $4 a share. This week, its stock fell as low as $0.68 -- its lowest level since May 13, when it touched $0.65.
In the wake of that decline, is Sundial Growers a bargain worth buying, or should investors steer clear?
Source Fool.com
