Sundial Growers Inc. (NASDAQ: SNDL) has seen a massive volume in stock trading on Friday despite no news about the company. Higher volume on the company’s stock means that more and more investors are interested in buying and selling.
Sundial Growers has recorded a trading volume of 735.43 million as compared to the average volume of 21.91 million. The company has earlier disclosed that it is scheduled to report its financial results for the third quarter ended September 30, 2020, on November 11, 2020.
Now, look at the reason why the company stock is trading higher for the past few days. It seems the main reason which has excited the stock of Sundial Grower, a Drug manufacturing Specialty & Generic company is the ongoing 2020 US Presidential Election in which Joe Biden has been gaining a lead over current President Donald Trump.
So what exactly the link between Sundial Growers and Joe Biden? Well, the most essential part of Joe’s campaign is to decimalize the marijuana. The marijuana companies are seeing heavy volume in stock trading because Joe is on the brink of becoming the 46th President of the US.
Shares of Sundial Growers Inc. (NASDAQ: SNDL) soared 13.64% at $0.25 during the trading session of Friday. It had a trading volume of 735.34 million as compared to the average volume of 21.91 million. This company has 52-weeks of low and high weeks of $0.14 and $4.02, respectively.
SNDL has traded up 81.03% from its 52-weeks low and traded down -93.78% from its 52-weeks high. Looking at its liquidity, it has a current ratio of 1.80 and a quick ratio of 0.70. The company market capitalization has remained high, hitting $51.92 million at the time of writing.
Sundial Growers is the company which is currently focusing on growing Cannabis. Its main goal is to offer the best quality cannabis to customers with the help of experts in this particular field.
Sundial Growers runs several different brands through which it sells its cannabis products. Its main brands include BC Weed Co, Grasslands, Top Leaf, Palmetto, and Sundial.