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Why Sundial Growers Stock Wilted Today

TheMotleyFool

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Canadian marijuana company Sundial Growers (NASDAQ: SNDL) hardly had a sunny day on the market Friday. The company's shares tumbled by over 7% on the day "thanks" to a fresh analyst price-target cut.

The culprit was Canaccord Genuity analyst Shaan Mir, who chopped his Sundial price target by a deep 25%. In his estimation, the shares are now worth $0.60 apiece from the previous $0.80. At least Mir doesn't believe investors should bail on the stock; he's maintaining his hold recommendation on it for now.

Image source: Getty Images.

Source Fool.com

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