Why Sundial Growers Stock Is Soaring Today
Shares of Sundial Growers (NASDAQ: SNDL) were soaring 16.1% higher as of 11:18 a.m. ET on Monday. The Canadian cannabis producer didn't announce any news that would serve as a catalyst.
However, Sundial is scheduled to report its first-quarter results after the market close today. The big gain appears to reflect investors scrambling to jump aboard before those results are announced.
No outside investor should legally know what Sundial will report in its Q1 update. No insider who does know what the company will say can legally trade the marijuana stock. Barring any illegal activity, therefore, investors who are buying Sundial today are probably doing so based on their positive expectations related to the company's announcement.
Source Fool.com
