Expect a Less Wild Ride for Sundial Stock in the Months Ahead

InvestorPlace2021-05-20

With its balanced positives and negatives, SNDL stock will likely stay steady, until we see some progress on U.S. pot legalization What’s the next move for Reddit’s favorite pot play,Sundial Growers (...

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Comments

YWC
2021-05-21
YWC
Hi
NKT9493
2021-05-21
NKT9493
Follow?
LearnInvest
2021-05-21
LearnInvest
Wow
Jen88
2021-05-21
Jen88
??
Jaslen
2021-05-20
Jaslen
Like and comment please
Tacoyummy
2021-05-20
Tacoyummy
?

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The shares of this Canada-based cannabis company traded wildly earlier this year. In January and February, hopes that the U.S. Congress would legalize marijuana, coupled with “meme stock mania,” sent it soaring as much as seven-fold.\nBut since then, it’s fallen to prices not too far above where it was before the hype first took hold. Back to trading for less than $1 per share, the stock looks as though many expect it to decline some more.\nAt first glance, that makes sense. For starters, using traditional metrics, the valuation of SNDL stock  looks frothy. Not only that, but as an “also-ran” pot company, it’s a much lower-quality name than, say,Canopy Growth (NASDAQ:CGC). Yet it has several factors at play that could give it an unexpected boost. One such key factor is  its war chest of cash that it could put to productive use.\nBut that by itself probably won’t help the stock rally much above  its current levels. Instead, much of its potential still hinges on progress towards U.S. federal pot legalization. Until then, expect a less wild ride for this former roller-coaster stock.\nWhat’s Working (and Not Working) for SNDL Stock\nWith its unique position as a penny pot stock that trades on theNASDAQexchange, it’s easy to see why this stock became popular with ther/WallStreetBetscommunity. But the “Reddit effect” is no longer as strong as it once was, and fundamentals are becoming the main driver for stocks’ price action.  There are certainly many negative aspects of that change for Sundial.\nAnd the still-inflated valuation of its shares is unfavorable. Although analysts, on average, expect its 2021 sales to come in slightly below $5o million, the company’s market capitalization is $1.35 billion.\nBut Canopy’s turnaround remains a work in progress. As InvestorPlace columnist Dana Blankenhorn recently wrote, Sundial continues to operate deep in the red. But it does have a positive attribute that helps to counter those negatives.\nThe company’s many secondary stock sales diluted its shareholders. But, as a result of these offerings, the company is now flush with cash. According to a recent press release, it has around $1.08 billion CAD, or about $894 million, in its coffers. There’s no guarantee that it’ll put the cash to work in profitable initiatives. But being cash-rich but unprofitable is a whole lot better than being cash-strapped and unprofitable.\nSundial is far from being the best pot stock out there, and interest in the stock’s previous main catalyst- legalization of marijuana by the U.S. federal government — has waned. But that catalyst is still in play, and it’s still the main thing that could put the shares into hyperdrive once more.\nIts Longstanding Potential Catalyst Remains in Motion\nI’ve long used the term“legalization lottery ticket”to describe SNDL stock. I mean that the stock could generate outsized gains once Congress legalizes marijuana.\nMany have given up on that happening anytime soon. But the odds of legalization in the near-term may not be so slim. Sure, President Biden may only support decriminalization, not full legalization. But, as Senator Cory Booker argued in an interview last month, decriminalizing it on the federal level could produce the same result as full legalization.\nIn other words, pot could become like sports gambling, with each state deciding whether to legalize the drug and the federal government placing few restrictions on it. That could pave the way for Canada-based companies like Sundial to enter the American market. In short, President Biden may not block that catalyst. That sounds good, but are there enough votes in Congress for decriminalization?\nThat’s a good question. The Democrats control Congress, but they do not have a filibuster-proof majority in the Senate. That means they’ll need about ten Republican senators to be on board with decriminalization.\nYet, as I recently noted, the issue is becoming increasingly bipartisan. Fears that pot reform remains many years away may be overblown. And any progress on this issue could result in an epic move for SNDL stock.\nSundial Is Still Mostly a Legalization Play\nSundial may seem to be more hype than substance, but its situation may not be as bad as it looks on the surface. Although the company’s valuation and profitability are concerns. its cash position could be enough to make up for deficiencies in those areas.\nThe bottom line, however, is that SNDL stock will likely hold steady until Congress makes progress on legalizing pot.","kind":"news","is_publish_news":true,"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":130280345,"gmtCreate":1621552519287,"gmtModify":1704359370223,"author":{"id":"3576206774226035","authorId":"3576206774226035","name":"YWC","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":1,"idStr":"3576206774226035","authorIdStr":"3576206774226035"},"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/130280345","repostId":1183817361,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":130215877,"gmtCreate":1621552422399,"gmtModify":1704359365483,"author":{"id":"3576583202640797","authorId":"3576583202640797","name":"NKT9493","avatar":"https://static.tigerbbs.com/6332e9e73fa2d969a123da1e4579ec09","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3576583202640797","authorIdStr":"3576583202640797"},"htmlText":"Follow?","listText":"Follow?","text":"Follow?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/130215877","repostId":1183817361,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":130691135,"gmtCreate":1621528440827,"gmtModify":1704359203618,"author":{"id":"3557149694723733","authorId":"3557149694723733","name":"LearnInvest","avatar":"https://static.tigerbbs.com/594b73908b38c8292bfb94c979249bc7","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3557149694723733","authorIdStr":"3557149694723733"},"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/130691135","repostId":1183817361,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":130874881,"gmtCreate":1621527061443,"gmtModify":1704359184242,"author":{"id":"3582993517958198","authorId":"3582993517958198","name":"Jen88","avatar":"https://static.tigerbbs.com/5aaf732b230f1241c2c9b76b2b27ae00","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3582993517958198","authorIdStr":"3582993517958198"},"htmlText":"??","listText":"??","text":"??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/130874881","repostId":1183817361,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":130858840,"gmtCreate":1621525415880,"gmtModify":1704359151248,"author":{"id":"3579319144921544","authorId":"3579319144921544","name":"Jaslen","avatar":"https://static.tigerbbs.com/597ef08fd8f2bd857b8021d7044cd65a","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3579319144921544","authorIdStr":"3579319144921544"},"htmlText":"Like and comment please","listText":"Like and comment please","text":"Like and comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/130858840","repostId":1183817361,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":130865842,"gmtCreate":1621524368286,"gmtModify":1704359127738,"author":{"id":"3576492436543811","authorId":"3576492436543811","name":"Tacoyummy","avatar":"https://static.tigerbbs.com/2be02e644060f93ed2d75558013f9030","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3576492436543811","authorIdStr":"3576492436543811"},"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/130865842","repostId":1183817361,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":38,"commentSize":8,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; 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