Sundial Growers Is Bankrolling These Cannabis Stocks
Cannabis company Sundial Growers (NASDAQ: SNDL) got an influx of cash earlier this year thanks to its rising popularity with retail investors. The meme stock cashed in on its hype in late January and early February when management took advantage of an inflated stock price and announced two offerings. Sundial is now in a great financial position, sitting on hundreds of millions of dollars -- well more than what it needs to fund its day-to-day operations.
But management hasn't been sitting idle; Sundial has been putting that money to use investing in multiple businesses, and cash-strapped cannabis companies have been turning to its joint venture, Sunstream, looking to raise money. Below, I'll look at some of the companies Sundial and Sunstream have been bankrolling and assess whether this new strategy is good for Sundial's business.
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Source Fool.com
