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Why Sundial Growers Stock Soared Today

TheMotleyFool

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Shares of Sundial Growers (NASDAQ: SNDL) soared on Monday. As of 2 p.m. EST, the cannabis company's stock price was up more than 45%.

Sundial's share price has doubled in recent days after it drew attention from traders on the WallStreetBets group on Reddit, which now has nearly 8 million members. Like other stocks the group has targeted, Sundial is heavily shorted. So, it's likely that some traders bought shares in hopes of igniting a short squeeze that would help to drive Sundial's price higher.

Image source: Getty Images.

Source Fool.com

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