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Why Sundial Growers Jumped 8.4% Today

TheMotleyFool

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The stocks of many companies in the cannabis sector jumped Thursday thanks to a deal announced this morning. One popular name, Sundial Growers (NASDAQ: SNDL), rose 8.4% on the day.

Even after a retrenchment from February highs, shares in Sundial Growers are up almost 200% year to date. Today's news has investors hoping there's more to come.

The big news today was that tobacco giant British American Tobacco (BAT) (NYSE: BIT) is making an investment in Canadian pot grower Organigram Holdings (NASDAQ: OGI). BAT will take a 19.9% stake in Organigram for an investment equivalent to about $175 million.

Source Fool.com

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