Why SNDL Stock Got Investors High on Monday
The trading week started off nicely for Canadian marijuana company SNDL (NASDAQ: SNDL), which saw its share price inch marginally higher as the S&P 500 index slumped by nearly 1%. Fueled by acquisitions, SNDL managed to boost its net revenue for the third quarter by more than 16-fold on a year-over-year basis to 230.5 million Canadian dollars ($173.8 million). The story was different on the bottom line, where SNDL flipped to a loss of CA$98.8 million ($74.5 million) from the year-ago profit of CA$16.7 million ($12.6 million).