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Sundial Growers Resumes Downtrend

May 5, 2021 11:56 am
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Sundial Growers Resumes Downtrend

After two weeks of consolidating below resistance at the one dollar level, shares of Reddit favorite Sundial Growers Inc. (NASDAQ:SNDL) have resumed their downtrend.

This isn't surprising. There were two reasons why the stock soared in February: it's a penny stock and a cannabis company. There were no true fundamental reasons for the move.

There’s a good chance shares continue to trend even lower. Over the past two years, this company has lost about $400 million and many analysts predict it will lose money this year as well.

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