Why SNDL Rallied Last Week

Shares of Canadian cannabis and liquor platform SNDL (NASDAQ: SNDL) rallied 14.6% last week, according to data from S&P Global Market Intelligence.

SNDL is coming off an earnings report that showed positive momentum in revenue and profitability, with its losses narrowing. Then last week came several positive news items regarding the cannabis industry in Canada and prospects for legalization in the U.S.

The Canada-based SNDL is a bit different from your traditional multistate operator in the U.S. After becoming a meme stock back in 2021, SNDL was able to raise a massive amount by tapping the equity markets when its price was elevated.

Source Fool.com