Monday, shares of SNDL fell by 4.09% and closed the trading session at $0.67. Sundial was a red blemish on an otherwise bullish start to the trading week as all three major indices closed higher thanks to a major rally from big tech. The Dow Jones added 103 basis points, the S&P 500 gained 0.81%, and the NASDAQ rallied higher by 1.9% as the tech-heavy index continues to battle its way back from the recent drop into bear market territory.
The major headline that was sending Sundial lower on Monday was a self-imposed trading ban by some of the company’s executives. The application was made last week and was already approved by the Alberta Securities Commission in Canada. This means that Sundial’s CEO and CFO are not able to trade any Sundial shares until the company has filed its audited and consolidated financial results for 2021. Last week, Sundial delayed its quarterly earnings report until April 14th due to the closing of its acquisition of private liquor retailer, Alcanna.
Comments