OGI - Sundial up 4% following Q4 2020 earnings; other cannabis names also up

Shares of cannabis player Sundial Growers (SNDL) are up 4.2% to $1.60 as the company reported Q4 2020 earnings after the closing bell yesterday.Although Sundial missed analyst expectations on revenues, the company increased, year over year, the amount of cannabis sold (36%) and its branded cannabis sales accounted for 75% of all cannabis sales, up from 20% the prior year.Q4 2020 earnings also came on the heels on a Monday announcement that Sundial and Canadian private equity firm SAF Group's SAF Opportunities LP formed a joint venture through a new corporation, SunStream Bancorp.The venture will seek cannabis investment opportunities in both Canadian and international markets.Sundial has made an initial commitment of C$100M (~$80.3M) toward the venture.Following the announcement of the deal, Canaccord Genuity analyst Shaan Mir said he was maintaining his hold rating on Sundial."We believe Sundial can be a notable player in industry consolidation efforts and would look to see capital deployment

For further details see:

Sundial up 4% following Q4 2020 earnings; other cannabis names also up