Should SNDL Investors Jump Ship After Its Reverse Stock Split?
With shares trading at more than $2 late last month, investors of SNDL (NASDAQ: SNDL), formerly known as Sundial Growers, may have gotten excited that there was some great news that finally lifted the stock up in value.
But it turned out that a 1-for-10 reverse stock split was the reason behind the increased price. It was a move the company needed to get its share price back over $1 and thus remain listed on the Nasdaq.
Shares of SNDL have been falling again since the reverse split, and it's now down more than 70% over the past 12 months (by comparison, the Horizons Marijuana Life Sciences ETF has declined over 60%). Should investors sell the stock for good, or is it worth hanging on to and waiting for a recovery?
Source Fool.com
