Why Sundial Growers Stock Moved Higher Today
Sundial Growers (NASDAQ: SNDL) stock has been popular with traders over the past several months. Its daily average trading volume has soared by more than 1,000% since the U.S. elections in November, and its share price has also risen by more than 700% in that time.
After Sundial reported earnings Wednesday, its shares headed upward again, and were trading higher by 7.9% as of 10:40 a.m. EDT Thursday.
Sundial reported fourth-quarter and full-year 2020 results Thursday night, and there were several positive items of note. Though net revenue for the year declined by 4%, gross revenue increased by 10%. And that increase came as pricing declined. The company reported that its gross selling price per gram equivalent of branded products declined from $6.24 in 2019 to $5.05 in 2020. That's good news and bad news for the cannabis company.
Source Fool.com
