On February 8, 2022, Sundial Growers Inc (SNDL) stock closed the trading day at $0.50, making no change from the previous trading session. During the pre-market, the stock price gained 7.27% to $0.54. The gain came after the press release published by the company on February 8, 2022.
Sundial Growers Inc. (SNDL) is occupied with the creation of cannabis using indoor facilities. The organization offers the best client experience and best quality cannabis items. The organization works under the sections including Operations, Retail, and Investments. The assorted arrangement of cannabis and cannabis-related items incorporate inhalable items that are sorted into flowers, pre-rolls, and vapes. These items are sold under different brands including Sundial Cannabis, Palmetto along with Grasslands brands. Headquartered in Calgary, Canada, the company was founded in 2006.
Press Release
On February 8, 2022, SNDL announced that they have received a 180-day extension to meet the NASDAQ’s minimum bid price requirement. The company reported on August 9, 2021, that NASDAQ notified Sundial Growers Inc (SNDL) about the non-compliance of the bid price of its shares with the NASDAQ minimum bid price requirement. Initially, the company was to regain compliance on February 7, 2022.
The extension in the date will now allow Sundial Growers to regain compliance, given that the bid price of the stocks closes the trading day at $1 or above, for at least 10-consecutive trading days before August 8, 2022.
SNDL Financials
Sundial Growers Inc reported its financial results for the third quarter of FY21. The total revenue of the company during the third quarter was CA$14.3 million against CA$12.8 million in the same quarter of FY20. The gross profit of SNDL was CA$1.7 million during Q3 of FY21. The net income was CA$11.3 million. The Diluted earnings per share (EPS) of the company were CA$ 0.005.
