Why SNDL Stock Wafted Higher Today
On the back of a somewhat complex deal with one of its business partners, SNDL's (NASDAQ: SNDL) stock bumped up higher on Wednesday. When the smoke cleared, the Canadian marijuana company's share price had closed 1% above Tuesday's level.
SNDL and that partner -- retailer Nova Cannabis (OTC: NVAC.F) -- jointly announced a "transformational strategic partnership" that morning.
What it transforms is the existing relationship between the two companies. In their words, SNDL will "vend" its 26 dispensaries (plus accompanying intellectual property rights) to Nova. Meanwhile, the latter company will hold the right of first refusal to SNDL's retail pipeline in the Canadian market.
Source Fool.com
