Sundial Growers Inc. SNDL has reclaimed compliance with the Nasdaq Stock Market’s minimum bid price demands to remain listed on the exchange.
The Canadian cannabis company confirmed Wednesday that it had the closing bid price of its shares at $1.00 per share for a minimum of 10 consecutive business days, in that manner resolving the issue of staying listed.
Recently, the company announced a strategic move – making an investment of $22 million into a cannabis edibles producer, Indiva Ltd. NDVA NDVAF.
"Sundial is pleased to support the development of Indiva's high-quality products," Sundial CEO Zach George said. "This transaction broadens our exposure to the rapidly expanding cannabis edibles category."
At the time of writing, Sundial’s shares were trading 15.75% lower at $1.85 per share.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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