Last but certainly not least, the most popular pot stock in the world, Aurora Cannabis (NYSE:ACB), could find itself booted from the NYSE and back on the over-the-counter exchange if it's not careful. The stock closed Thursday at 47 cents. Unfortunately, that's not what happened, and investors suffered through the worst year on record for cannabis stocks. Find the latest Sundial Growers Inc. (SNDL) stock discussion in Yahoo Finance's forum. You'll often find him writing about Obamacare, marijuana, drug and device development, Social Security, taxes, retirement issues and general macroeconomic topics of interest. Stock Advisor launched in February of 2002. Discussion. report. With CEO Sebastien St-Louis suggesting that his company needs 20% market share throughout Canada to become profitable (a feat no Canadian pot stock might wind up achieving), it's no wonder HEXO's share price has cratered. Sort by. To our north, regulatory-based supply problems have wreaked havoc and allowed the black market to thrive. Unfortunately, this is also a pot stock whose investors appear to have lost faith in management. HEXO's fall from grace had nothing to do with fraud, as was the case with CannTrust, and everything to do with Canada's aforementioned supply problems. Quebec-based HEXO (NYSE:HEXO) also finds itself in some trouble. However, in the IPO filing, Sundial said that it … View all SNDL assets, cash, debt, liabilities, shareholder equity and investments. Trading at $0.56 on Jan. 26, SNDL stock skyrocketed to a 52-week high of $3.96 on Feb. 10. In states like California, consumers are being hit with already high state and local taxes, along with a 15% excise tax and a wholesale tax. Sundial Growers. DOW 0.00%. NASDAQ 0.00%. CannTrust is facing a double whammy in that it closed below the $1 minimum share price for continued listing as of Feb. 12, and it also hasn't reported its operating results in more than 10 months. Failing to disclose this return resulted in a lawsuit against the company. Rooms Shows Rankings Earnings Calendar Shop. As for Sundial, it recently saw its CEO depart and has been reeling from the possibility of facing lawsuits. A Fool since 2010, and a graduate from UC San Diego with a B.A. Inclusive of other costs that may not be as visible, such as quality control testing, it's not inconceivable that Californians are paying an extra 50% on legal pot products. Following one too many positive projections that simply didn't come true, HEXO has cut 200 jobs and idled about a third of its peak production capacity. The answer is an absolute rout for cannabis stocks. View our earnings forecast for Sundial Growers. The second concern is, once again, a lack of trust among investors. We’re motley! In August 2019, one of Sundial Growers’ partners rejected some cannabis due to poor quality. Delisted Stocks Danger: Sundial Growers (SNDL) Source: Shutterstock. Yes, not being able to plant and sell cannabis will lead to lower costs, as will the 140 layoffs the company announced during the fourth quarter of 2019. SNDL stock hasn’t traded above $1 since June. If it gets delisted and you have already accumulated its shares, you will have difficulty finding a buyer. Lastly, we're seeing financing concerns throughout North America. Cannabis producer Sundial Growers closed at 48.5 cents on Dec. 30, meaning that even if the stock doubles before the year ends, it still wouldn’t meet Nasdaq’s above-$1 listing requirement. As of now, this prognostication looks as if it'll be correct. To date, OrganiGram is the only Canadian licensed producer that's been able to generate a no-nonsense quarterly operating profit. Returns as of 02/27/2021. Under Nasdaq rules, a stock can be delisted if it trades below a dollar for more than 10 consecutive days. 77% Upvoted. Delisted shares refer to the shares of a listed company that has been removed from stock exchange permanently for buying and selling purposes. Roughly three weeks ago, the company's CEO, Torsten Kuenzlen, abruptly resigned. In recent weeks, Sundial Growers (SNDL) has been on a high. But without an accurate look at its finances, CannTrust's share price could sink further. Earlier this year, I made a prediction that more marijuana stocks would be delisted from a major exchange than uplist to a major exchange. Last year was expected to be when marijuana stocks proved their worth to Wall Street. Before this, Sundial was contending with the fallout from allegedly having had a significant order returned by Zenabis Global due to impurities. That means delisted shares will no longer be traded on the stock exchanges – National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). Annual balance sheet by MarketWatch. View recent trades and share price information for Sundial Growers Inc and other shares. Although you might be tempted to think that the future is bright for Sundial Growers given the recent surge, it is unfortunately … But the marijuana industry has been particularly vulnerable for a variety of reasons. in Economics, Sean specializes in the healthcare sector and investment planning. Returns as of 02/27/2021. When the fuck was sundial ever mentioned in this sub . The process of delisting of securities for any company is governed by the Securities and … 5 days ago. You'll often find him writing about Obamacare, marijuana, drug and device development, Social Security, taxes, retirement issues and general macroeconomic topics of interest. This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. Understandably, companies can and often do appeal delisting notices that are based on their share price. For those who may recall, CannTrust is the company that announced last July that it had illegally grown marijuana in five unlicensed grow rooms at its flagship Niagara campus for a period of six months (October 2018 to March 2019). Though these delisting notices can be appealed and extensions often granted, it's not a good look for the pot industry. level 1. Just eight months after its initial public offering on the Nasdaq, Sundial finds itself a mere $0.17 above the minimum $1 share price for continued listing. Sundial Growers Inc. The … Just as concerning, because CannTrust has not reported its financials in more than 10 months, investors have no clue what sort of cash the company is currently sitting on. Failing to disclose this return resulted in a lawsuit against the company. save. CannTrust received a noncompliance notice from the NYSE in December. Sundial Growers Inc.(SNDL) and Indiva Announce $22 Million Strategic Investment marketwatch.com - February 16 at 12:29 PM: Sundial Is Still Not a Great Buy on the Pullback msn.com - February 16 at 12:29 PM: Why Sundial Growers Stock Jumped, Then Dropped Today finance.yahoo.com - February 16 at 12:29 PM : Forget Sundial and Zomedica: These Are the … In the U.S., where marijuana remains a federally illegal substance, banks and credit unions continue to worry about the prospect of financial or criminal penalties for aiding pot companies. As a reminder, the NYSE and Nasdaq require publicly traded companies listed on their exchanges to maintain a minimum $1 share. December 11, 2020 8:46 AM. With little in the way of positives for Sundial, delisting is a very real possibility in 2020. And yet, it may also be unable to avoid delisting if fear builds in the stock market and growing pains persist for the pot industry. See insights on Sundial Growers including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. The latest Sundial Growers Inc share price. Aurora's cost-cutting moves also include halting construction on two of its largest cultivation sites and selling another greenhouse, which will collectively cut its annual run-rate output by about 430,000 kilos per year. Sundial Could Get Delisted But that’s not all. Sundials problems can essentially be placed in two camps. Company Name: Sundial Growers Inc., Stock Symbol: SNDL, Industry: Cannabis, Total Posts: 5475, Last Post: 2/23/2021 12:02:01 AM Will Sundial stock be delisted from NASDAQ? It has until June to keep its share price above $1 for at least 10 consecutive days. Aurora's share price sank to $1.41 in the after-hours session on Wednesday, Feb. 12, meaning only a $0.41 gap existed between its stock and the minimum share price for continued listing. hide. Regulatory agency Health Canada was particularly slow in approving cultivation and licensing applications for pot growers, and it also wound up delaying the launch of high-margin derivatives (e.g., edibles, infused beverages, vapes, topicals, and concentrates) by two months. How were Sundial Growers' earnings last quarter? So far the price is heading in the right direction. S&P 500 0.00%. In a recent corporate update, Sundial announced plans to save $10 million Canadian to CA$15 million per year. Meanwhile, in the U.S., high tax rates have made it very difficult for legal operators to compete with illicit producers. Jay Lutz Sundial Growers. Until the end of 2019, Canada's most-populous province, Ontario, had been working with a lottery system to assign licenses to dispensaries. Sundial Growers Inc NASDAQ Updated Feb 23, 2021 10:03 AM. As a result, the company had its cultivation and sales licenses suspended by Health Canada in September. This resulted in a meager 24 retail stores being open as of Oct. 17, 2019, the one-year anniversary of cannabis product sales commencing. Cumulative Growth of a $10,000 Investment in Stock Advisor, 4 Marijuana Stocks Could Soon Face Delisting @themotleyfool #stocks $ACB $HEXO $CNTTQ $SNDL, be squarely in the crosshairs of the NYSE, idled about a third of its peak production capacity, eight months after its initial public offering, nothing short of a disaster for 11 months and counting, 5 Awful Stocks Robinhood Investors Can't Stop Buying, Aurora Cannabis and Tilray to Supply Experimental French Medical Cannabis Program, Why Aurora Cannabis Plummeted 28.9% in December, Why Aurora Cannabis Stock Jumped Over 30% Today, 3 Stocks Money Managers Couldn't Stop Buying in Q3, Copyright, Trademark and Patent Information. It's unclear if or when CannTrust will regain these licenses, meaning the company is unable to generate any revenue at the moment. None of these four companies looks as if it has the tools to turn things around anytime soon. A Fool since 2010, and a graduate from UC San Diego with a B.A. Aurora Cannabis has halted construction of two of its largest cultivation farms, laid off 500 workers, and has reworked its debt covenants. The company offers its products under the Top Leaf, Sundial Cannabis, Palmetto, and Grasslands brands. Now, with valuations severely depressed, the clock has started on what could be a mass-delisting for cannabis stocks trading on the New York Stock Exchange (NYSE) or Nasdaq. Log in or sign up to leave a comment Log In Sign Up. This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Of course, these aren't the only four marijuana stocks that have to be worried about delisting. Share your opinion and gain insight from other stock traders and investors. Meanwhile, in Canada, financial institutions have become leery about lending to cannabis companies given the rash of regulatory problems the industry has dealt with since sales began 17 months ago. It's one of a small number of licensed producers that has a supply agreement with every Canadian province, and its three-tiered growing system at its Moncton, New Brunswick, campus should lead to yields per square foot that more than double the industry average. In December, Sundial Growers was given a notice that it has a 180-day period until Jun. Another recent train wreck in the cannabis space that could soon be shown the door is Sundial Growers (NASDAQ:SNDL). Sundial Growers Announces Closing of its US$100 Million Registered Offering PR Newswire (US) - 2/2/2021 7:30:00 AM: Sundial Growers Announces US$74.5 Million Registered Offering and Full Utilization of Shelf Registration Statement PR Newswire (US) - 2/2/2021 7:09:00 AM Real-time trade and investing ideas on Sundial Growers Inc SNDL from the largest community of traders and investors. At a time when many cannabis equities are rallying and Sundial … During the third quarter, OrganiGram's net sales, less its cost of goods sold and operating expenses, resulted in an operating profit of $1.2 million Canadian. SNDL … For starters, Canada has been contending with supply problems since day one of legalization, all the way back on Oct. 17, 2018. To be fair, no industry has been immune to the concerns created by coronavirus disease 2019 or the subsequent haircut all of the major U.S. indexes have endured. For cannabis stocks, their growing pains being compounded with a very fearful stock market has proved to be the perfect storm. For context, this is a province of 14.5 million people that could reasonably house 1,000 dispensaries. OrganiGram also boasts a number of other competitive advantages. Sundial Growers has 138 employees at their 1 location and C$75.86 M in annual revenue in FY 2019. Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer. As for Aurora Cannabis, HEXO, and Sundial, their declines have been real eye-openers. Cumulative Growth of a $10,000 Investment in Stock Advisor, Start the Clock: The Cannabis Stock Delisting Countdown Has Begun @themotleyfool #stocks $ACB $OGI $HEXO $CNTTQ $SNDL, quickest descent into bear market territory, particularly vulnerable for a variety of reasons, lottery system to assign licenses to dispensaries, boasts a number of other competitive advantages, 5 Pot Stocks Money Managers Bought Hand Over Fist in Q4, 1 Effective Way Investors Can De-Risk Their Portfolios, Why Marijuana Stocks Like Aurora Cannabis and HEXO Are Sinking Today, Copyright, Trademark and Patent Information. While a reverse split does remain an option and it is possible they reclaim the $1 minimum share price mark, there's a growing likelihood that 2020 will be remembered as the marijuana stock mass exodus (via delisting) from major U.S. exchanges. First, there have been operational issues tied to Canada's supply problems. Sundial Announces Issuance of New Warrants and US$89.1 Million... Sundial Growers Inc. (NASDAQ: SNDL) (”Sundial” or the “Company”) announced today that holders (the “Holders”) of 98,333,334 warrants (the “Warrants”) to purchase... Read More. MEDELLIN, COLOMBIA - DECEMBER 12: A girl blows smoke at a marijuana plant throughout a march to ... legalize marijuana on December 12, 2020 in Medellin, Both are Canadian growers exposed to the same growing pains as the four pot stocks facing possible delisting -- but OrganiGram just happens to be the best-performer of the bunch, at least based on income statements. Friday, Feb 19, 2021. Sundial has also primarily sold marijuana in the wholesale market, which generates lower margins than the retail space. This includes the delayed launch of higher-margin derivatives, which only began hitting dispensary shelves in mid-December. In the United States, taxation has been the real threat to legal-channel sales growth. While only one of these pot stocks has been officially warned of a possible delisting, all four are currently in precarious positions. Filing operating results with the Securities and Exchange Commission is a requirement for continued listing on the New York Stock Exchange (NYSE). Additionally, provincial regulators haven't exactly been helpful. If a company's share price dips below $1 for a period of 30 days, it receives a delisting notice. But if HEXO's share price were to fall much more, it'd be squarely in the crosshairs of the NYSE. Sundial Growers Inc. engages in the production, distribution, and sale of cannabis products for the adult-use market It is also involved in the production, distribution, and sale of ornamental plants and herbs in the United Kingdom. Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer. Sundial Growers Inc 1.43 0.10 (6.54%) Watch. Market data powered by FactSet and Web Financial Group. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Aurora Cannabis has been nothing short of a disaster for 11 months and counting. Despite its $355 million market cap, HEXO ended Feb. 12 at just $1.25 per share, which is only $0.25 away from breaching the minimum required price to maintain listing on the NYSE. Weaker operating results have caused Sundial to rethink its growth strategy as well as to cut costs. Cannabis producer Sundial Growers closed at 48.5 cents on Dec. 30, meaning that even if the stock doubles before the year ends, it still wouldn’t meet Nasdaq’s above-$1 listing requirement. 16 comments. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Sundial Growers (NASDAQ: SNDL) appears to be doing all that it can to avoid being delisted from the Nasdaq while attempting to skip out on conducting a reverse split. Log In. This makes it virtually impossible to compete against black-market producers. Sign Up. Market data powered by FactSet and Web Financial Group. There are questions as to whether Aurora has enough capital to survive over the long run, and its balance sheet is riddled with goodwill following a number of overpriced acquisitions. Cannabis Stocks That May Face Delisting in 2020 As of February 18, 2020, despite the amount of capital raised in the industry bouncing back, cannabis stocks remain near all-time lows. Likewise, HEXO has reduced about a third of its peak production capacity and laid off 200 workers from a variety of departments. CannTrust's cultivation and sales licenses have been suspended since September, and the company has already received a delisting notice from the NYSE. In Sundial’s defense they did clear out their debt. Get the latest news and analysis in the stock market today, including national and world stock market news, business news, financial news and more best. For example, OrganiGram Holdings (NASDAQ:OGI) ended the week at only $1.64, and Aphria crossed the ticker tape at $2.25 per share. Stock analysis for Sundial Growers Inc (14K:Frankfurt) including stock price, stock chart, company news, key statistics, fundamentals and company profile. in Economics, Sean specializes in the healthcare sector and investment planning. VIEW ALL. What do you get when a still-nascent industry that's been experiencing growing pains encounters the quickest descent into bear market territory in history for the stock market? As per some sources, Sundial Growers has until June 26, 2021, to keep the share price above $1 for at least ten consecutive days. While a reverse split might be an option for continued listing (should it come to that), Aurora Cannabis certainly appears to be in trouble. Talk of a possible delisting in the near future is floating among analysts. Sundial Growers Inc. was incorporated in … They have until June to keep their share price above $1 for 10days or it will get delisted. Trending now. Between shortages and supply bottlenecks, HEXO has struggled to get product in front of its customers. This isn't exactly a profit to write home about, but it's the only pot stock that hasn't leaned on fair-value adjustments or other one-time benefits to generate a quarterly profit. With little in the way of positives for Sundial, delisting is a very real possibility in 2020. Concerning enough as is, some cannabis stocks still have more to worry about than others. Even following the stock market's best single-day performance since 2008 on Friday, March 13, four marijuana stocks on major U.S. exchanges currently sit well below the $1 mark: CannTrust's fall from grace makes total sense following the admission that it had grown marijuana illegally in five unlicensed rooms at its flagship Niagara facility for a period of six months. I’m seeing a bunch of brokers that say that WSB is responsible of the surge. If they don’t get delisted, … Sundial Growers is scheduled to release its next quarterly earnings announcement on Monday, March 29th 2021. Sundial Growers Inc. (NASDAQ:SNDL) issued its quarterly earnings results on Wednesday, November, 11th. Will Sundial Growers be delisted? Sundial currently trades publicly on the Nasdaq under the symbol SNDL. December 11, 2020 8:46 AM. CannTrust's cultivation and sales licenses have been suspended since September, and the company has already received a delisting notice from the NYSE. And as the icing on the cake, some of the most prominent names in the marijuana industry could soon face delisting. The company continues to lose money on an operating basis and recently announced a massive overhaul that'll see 500 workers let go, along with its CEO, Terry Booth, who's chosen to resign. Cancel. Even signing the largest wholesale cannabis supply deal in history with its home province of Quebec couldn't prepare HEXO and its peers for the licensing issues that ensued in 2019. share. The marijuana stock that's likeliest to get the heave-ho from a major U.S. exchange at some point in 2020 is embattled CannTrust Holdings (OTC:CNTTQ). The company's balance sheet remains a mess as well. Stock Advisor launched in February of 2002. 26, …
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