Will Sundial Growers' $430 Million Bet Pay Off?
Sundial Growers (NASDAQ: SNDL) became one of the most-hyped meme stocks on the market earlier this year, but much of the initial fervor over the Canadian cannabis operator has died down now. However, Sundial's share price remains up close to 90% year to date.
The company has leveraged its success to expand into a new area of focus. In March, Sundial announced a joint venture with investment management firm SAF Group. Over the subsequent months, the company upped its funding of this joint venture, and now has 538 million in Canadian dollars committed to it -- roughly $430 million. Will Sundial's big bet pay off?
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Source Fool.com
