Does SNDL's Latest Acquisition Make the Stock a Buy?

SNDL (NASDAQ: SNDL) achieved a mammoth 2,344% growth rate in its most recent quarterly results, largely thanks to acquisitions. Expanding into cannabis stores and liquor retail have led to the cannabis company reporting record sales numbers. Unfortunately, that hasn't led to profitability or even a better stock price -- shares of SNDL are down close to 50% this year. That's worse than the Horizons Marijuana Life Sciences ETF, which has fallen by 42%.

But SNDL isn't done wheeling and dealing, as it just announced yet another acquisition.

On Aug. 22, SNDL announced it was going to acquire cannabis extraction company, Valens, for 138 million Canadian dollars ($106.06 million). SNDL will fund the transaction through shares, keeping its cash intact -- but diluting shareholders in the process.

Source Fool.com