SNDL - Sundial Growers leads cannabis rivals ahead of earnings

Canadian Licensed Producer Sundial Growers (NASDAQ:SNDL) has recorded the biggest intraday gain since mid-March in the morning hours Monday ahead of its Q1 2022 financials after the market close. Notable gainers include cannabis distributor GrowGeneration (GRWG) and Canadian LPs Tilray (TLRY) and Canopy Growth (CGC), Aurora Cannabis (ACB) and Cronos (CRON +2.9%) (CRON) which are trading higher for the third straight session albeit with low volume. The recent surge in cannabis stocks is noteworthy as U.S. stocks are on the decline following six consecutive weeks of losses. It also coincides with a cannabis-related legislative development in California. Last Friday, the governor, Gavin Newsom (D) announced an updated budget proposal calling to do away with state’s marijuana cultivation tax and revised cannabis tax revenue allocations. The move comes at a time when cannabis businesses are battling rising inflation and a decline in demand after a pandemic-era peak, Marijuana Moment reports. However,

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Sundial Growers leads cannabis rivals ahead of earnings