SNDL Stock Is Looking Like an Ideal Short-Term Cannabis Play

InvestorPlace2021-08-02

U.S.-based reform efforts is just the catalyst SNDL stock bulls need. The Cannabis Administration and Opportunity Act, floated by Senate majority leader Chuck Schumer, Finance Chairman Ron Wyden, and...

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kwangcm
2021-08-02
kwangcm
Great
tcsoon
2021-08-02
tcsoon
Nice

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The bill aims to legalize cannabis, a move that would allow adult Americans to buy and possess up to 10 ounces of marijuana without facing criminal penalties. This is major news for the cannabis sector. And that is why it is not surprising Sundial Growers Inc. stock is looking like a good short-term play.\nDespite weak fundamentals,Redditorshave shown they are firmly behind this one. And therefore, with all of the talk surrounding potential federal decriminalization, retail traders will be in firm control now. But the long-term issue remains. SNDL just hasn’t done enough to justify its premium valuation. But with positive news emanating from Washington, the cannabis producer will continue to do well in the near term.\nSchumer Bill Is a Big Deal for the Industry\nOn July 14, Senate Majority Leader Chuck Schumerproposed legislationthat would legalize marijuana at the federal level in the U.S., removing it from the Controlled Substances Act. Suffice to say; this is massive. With the Democrats in full control of Congress and the White House, the odds for full federal legalization have never been higher.\nThere has been much debate on the subject over the last few years. But the writing is on the wall. Legalizing the substance will help create jobs and generate tax revenue. And for the American people, it is already a bipartisan issue. More than 91% of adultsfavor legalizing cannabisfor either medical or adult recreational use.\nPresident Joe Biden has said that he supports decriminalization and the legalization of medical cannabis.\nBut despite all the enthusiasm, there has hardly been any momentum at the federal level to legalize cannabis. But there is a chance all that could change moving forward.\nSchumer has discussed his strategy for getting enough votes to pass the bill, describing the process of soliciting feedback on the legislation from colleagues and working to incorporate any requested “modifications” because, in his words,  “I want to get this done. And I think we will get it done because it’s so, so overwhelmingly supported by the American people.”\nUnderstandably, with these developments, it is important to watch cannabis stocks. These securities tend to be very news-sensitive. So, any positive developments will inevitably lead to spikes.\nSNDL Stock: Fundamentals Remain Unchanged\nApart from the positive developments in the wider market, SNDL stock has few other catalysts. It hascompleted its acquisitionofSpiritleaf Retail Cannabis Networkandboosted its commitmenttoSunStream Bancorpby 350 million CAD.\nSpiritleaf owns more than 100 stores across six provinces expanding Sundial’s overall retail network. However, it is still more exposure to the Canadian cannabis market. There have been many column inches dedicated to highlighting how and why the Canadian market is a massive disappointment. I do not want to tread old ground. But until we see substantial growth, all eyes are on the U.S.\nThe boost in capital commitment is more cause for cheer. SunStream is a joint venture between Sundial and theSAF Grouplooking to invest to finance global cannabis opportunities. As I touched upon in myprevious articleon Sundial, income from strategic investments is higher than from cannabis sales. SNDL has the cash from its equity sales and putting it to good use will encourage investors.\nDiverging Investment Strategies\nOn a TTM basis, sales are still down 36.4% and EPS is down 43.3%. Yet, despite this performance, shares are up 66% year-to-date, underlining the significance of Reddit support.\nHow long that will remain is anyone’s guess. Redditors are a force to be reckoned with on Wall Street. Stimulus check money found its way to the stock market and some analysts believe now that the economy is opening up it will become less of a factor. However, there is a flip side to the argument. Redditors have won several key battles this year, leading to savings and confidence. So, they may lose some strength. But they are here to stay.\nSNDL stock therefore will continue to benefit from this trend, particularly in this environment, where every new day can bring further news and insight on the federal legalization of marijuana. Long term though, the company needs to start delivering top-line and bottom-line growth.","kind":null,"is_publish_news":false,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":805737982,"gmtCreate":1627905914546,"gmtModify":1703497572624,"author":{"id":"3573010849997314","authorId":"3573010849997314","authorIdStr":"3573010849997314","name":"kwangcm","avatar":"https://static.tigerbbs.com/e24efe2fbba0ec99a8910c17ba61a993","vip":1,"hat":"https://static.tigerbbs.com/0a8758340a08196056f8bc1e54805193","crmLevel":5,"crmLevelSwitch":0,"idStr":"3573010849997314"},"htmlText":"Great","listText":"Great","text":"Great","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/805737982","repostId":1128976703,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":805790332,"gmtCreate":1627904574126,"gmtModify":1703497545040,"author":{"id":"3582424355875676","authorId":"3582424355875676","authorIdStr":"3582424355875676","name":"tcsoon","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3582424355875676"},"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/805790332","repostId":1128976703,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":33,"commentSize":2,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.28.1","shortVersion":"4.28.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1128976703"}