Sundial Growers (SNDL) Stock Continues A Run For The Top

Sundial Growers SNDL Stock News

Sundial Growers Inc (NASDAQ: SNDL) is screaming for the top in the market this morning, following up on the recent dramatic gains seen in the stock. It’s not the only one either, the cannabis industry is enjoying massive gains in value. Aurora Cannabis (NYSE: ACB) and others across the space are growing.

Like ACB, there has been no news out of SNDL. So, what’s the big deal?

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SNDL Is Climbing As Regulatory Changes Are Taking Place

The cannabis industry is a budding one. While cannabis is legal for adult use in Canada and legal for recreational and medical use in various states across the United States, it is still illegal in many areas.

In particular, on the federal level in the United States, cannabis is still a highly illegal controlled substance. Nonetheless, that seems to be changing. On election day, multiple states legalized cannabis with others relaxing laws surrounding just how “controlled” the controlled substance is.

Sure, that means nothing on a federal level, but for Sundial Growers, Aurora Cannabis, and others in the industry, the regulatory changes are a very big deal.

The fact of the matter is that the votes to legalize cannabis show that popular opinion is changing. As such, if a vote to legalize cannabis on the federal level were to take place, the action would likely pass. If the world’s largest economy were to legalize cannabis for adult use, it would open the flood gates in the country, making it the land of opportunity for cannabis companies around the world.

All in all, from a regulatory perspective, SNDL shareholders have quite a bit to look forward to.

Beyond that, SNDL is expected to release its financial results next week. This is only adding to the excitement as investors are looking forward to positive updates.

The Bottom Line

The bottom line here is simple. Sundial Growers is in the right industry at the right time. As the regulatory climate continues to lean toward cannabis legalization in the United States and around the world, more and more opportunities will arise for the company.

Considering the results from election day, it only makes sense that investors are excited about SNDL stock as well as ACB and others in the cannabis space.

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