2023-04-30 07:20:00 ET
In growing industries, sometimes the competitive landscape can change overnight as businesses change their strategy or forge creative new paths in an attempt to secure their future dominance.
The cannabis industry is no exception, and in that vein, SNDL (NASDAQ: SNDL) just dropped a bombshell announcement that might disrupt the North American marijuana industry, perhaps forever. Here's what's going on with this Canadian cannabis and alcohol company formerly known as Sundial Growers and why it's a critical concern for investors.
In its fourth-quarter and full-year 2022 earnings report published April 24, SNDL casually mentioned that "the company expects that, on a structured and regulatory compliant basis, it may become a majority owner of one or more multi-state operators (MSOs) in the U.S. in 2023." That's a massive new development because it means it will no longer be a business wholly focused on winning in the Canadian market. Plus, it could put the company ahead of rivals like Tilray Brands , which have stalled or otherwise less-than-impressive plans to enter the U.S. cannabis market.
For further details see:
SNDL Just Made a Huge Announcement, But Is the Stock a Buy?