Sundial Growers Is Getting Into the Alcohol Business

Canadian-based cannabis company Sundial Growers (NASDAQ: SNDL) has been busy this year. Since cashing in on its popularity amid the meme hype with multiple offerings in the early part of 2021, it has been sitting on a pile of cash. It has made multiple acquisitions and investments as it continues to transform its business. The latest move came this month when it announced the purchase of retail company Alcanna (OTC: LQSIF), which operates 171 liquor stores in Canada (most of which are in Alberta -- Sundial's home province).

This move further diversifies Sundial's existing operations and gives it yet another source of revenue. But will it make Sundial a better investment, or just a more complicated business to invest in?

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Source Fool.com