SNDL (NASDAQ: SNDL) wants to be a top growth stock and the company has been making moves to bolster its financials, mainly through acquisitions. However, investors have remained hesitant to buy the cannabis stock, as it has failed to perform better than others in the industry this year. Will 2023 be another challenging year for SNDL, or could this once-popular meme stock be a hot buy again?

If SNDL were to generate $1 billion in revenue next year, it would be an impressive feat for the business. But at the same time, investors would know that if that happens, it means the company has been even more aggressive in pursuing mergers and acquisitions. 

That's because SNDL hasn't been generating anything notable in the way of organic growth this year. Instead, it has turned to acquisitions to bolster its top line. The most significant deal it has closed on in the past couple of years is its purchase of alcohol retailer Alcanna back in March. Liquor retail now makes up the majority of SNDL's business, with sales last quarter (period ending Sept. 30) totaling 230.5 million Canadian dollars, with the new segment representing two-thirds of that figure.

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Source Fool.com