The Republican Party is a mess, let’s be real. Gone is the classic conservatism of the late great Ronald Reagan. In its place is a disjointed ethos of blatant hypocrisies and fringe conspiracy theories. But what makes the matter troubling for troubled Sundial Growers (NASDAQ:SNDL) stock is that the Democrats are arguably worse. In my opinion, much worse.
That puts SNDL stock in quite a bind.
Of course, a bind is exactly what Sundial Growers does not need to be in. The chart of SNDL stock reads like a Matryoshka doll of pain. In one day (on the Oct. 4 session), SNDL dropped 6%. Over the trailing five days, it bled 11%. In the trailing month, it tanked 16%. And in the past half-year period, the equity unit veritably hemorrhaged 41%.
However, on a year-to-date basis, SNDL stock is up 15%. That, according to my colleague Chris Markoch is the nature of penny stocks. In his view, Sundial Growers is a few chapters shy of a new story. So long as that chapter isn’t Chapter 11 bankruptcy, that should be considered a win at this point.
Still, many investors have undoubtedly eyeballed the prospects of federal legalization of marijuana as the ultimate catalyst for SNDL stock. Certainly, everything can change if that were to catapult on the wild streets of Washington. As Markoch stated, legalization is probably a matter of when, not if.
But before you get too excited, he also explained that no one knows for sure when “when” is….