Why Sundial Growers Stock Skyrocketed Today
Shares of Sundial Growers (NASDAQ: SNDL) soared 79% on Wednesday, as the torrid rally in the highly traded cannabis stock's price continued.
Sundial's shares are up a staggering 555% so far in 2021. The marijuana company has become a trendy investment among traders on Reddit and other social media sites.
In recent days, Sundial has seen a surge in call option volumes. Call options give buyers the right to buy a stock at a specified price within a specific period of time. It's a form of leverage, one that traders used to drive up the price of stocks like GameStop and AMC Entertainment earlier this year.
Source Fool.com
