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.

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Source Fool.com