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Why Sundial Growers Stock Dropped Today

TheMotleyFool

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Shares of Sundial Growers (NASDAQ: SNDL) fell 14% on Tuesday after the marijuana producer announced a new stock offering.

Sundial Growers said it would seek to raise roughly $74.5 million from the sale of shares and warrants. The offering is expected to close on Feb. 4. The sale comes on the heels of another $100 million share offering that Sundial closed earlier today.

Sundial Growers has sold large amounts of its stock in recent days. Image source: Getty Images.

Source Fool.com

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