Why Sundial Growers Stock Surged Today

Shares of Sundial Growers (NASDAQ: SNDL) popped on Monday after the marijuana producer said it would create a joint venture with SAF Group. As of 1:50 p.m. EDT, Sundial's stock's price was up more than 10%. 

The two companies will work together to build SunStream Bancorp. The joint venture will focus on making cannabis-related debt and equity investments in Canada and international markets. Sundial and SAF Group will each own half of SunStream.

Sundial Growers wants to become a major investor in the rapidly expanding cannabis industry. Image source: Getty Images. 

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Source Fool.com