Why Sundial Growers Skyrocketed Today
Shares of Sundial Growers (NASDAQ: SNDL) soared on Wednesday in volatile trading. As of 3:15 p.m. EST, the popular marijuana stock's price was up more than 45%, after rising as much as 126.4% earlier in the day.
There is no fundamental reason why Sundial's stock price more than doubled this morning. The cannabis company didn't issue a press release or make any major announcements today. Instead, the likely culprit for today's massive price swings in Sundial's shares appears to be an attempt at a short squeeze.
Sundial Growers' stock popped on Wednesday. Image source: Getty Images.
Source Fool.com