SNDL Inc. SNDL shares are trading higher on Wednesday. The stock appears to be moving in sympathy with Tilray Brands, Inc. TLRY, which surged on strong quarterly results.
What To Know:
Tilray released its fourth-quarter and fiscal-year 2023 financial results on Wednesday beating analyst's top-line estimates. Shares of TLRY are trading up by more than 20% on the news.
Tilray and SNDL are both Canadian cannabis companies. SNDL shares are moving higher on heavy volume. According to data from Benzinga Pro, more than 6.3 million shares have been traded in the session, compared to the stock's 100-day average of 2.78 million shares.
On Tuesday, SNDL announced that the outside date for the closing of the partnership between SNDL and Nova has been extended to Aug. 25, pending the continued review of one provincial regulator.
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SNDL Price Action: According to Benzinga Pro, SNDL shares are trading 8.39% higher at $1.49 at the time of publication.
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