Why Sundial Growers Shares Withered by 4% Today
An unpopular stock in an unpopular sector, Sundial Growers (NASDAQ: SNDL) took a fresh share price hit on Monday. During an otherwise good day for the market, the Canadian marijuana company's stock fell by 4% on news that a voluntary ban on share trading by top managers has been accepted by a regulator.
On Friday night, Sundial announced that the Alberta Securities Commission -- its principal regulator -- had granted the company a management cease trade order, or MCTO. That was a fairly quick response, as Sundial announced at the end of March that it had submitted its application for the order.
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Source Fool.com