Why Sundial Growers Is Still Absurdly Overvalued

There's good news and bad news for Sundial Growers (NASDAQ: SNDL).

First, the good news: The Canadian cannabis producer plans to buy back up to 100 million Canadian dollars' worth of its shares. This announcement caused the stock to pop last week. The bad news, though, is that even with the bounce, Sundial's shares are down nearly 70% year to date. 

You might think that the combination of a solid stock repurchase and a beaten-down share price would give Sundial an attractive valuation. That's not the case, though. Here's why Sundial is still absurdly overvalued.

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Source Fool.com