What's Going On With Sundial Growers (SNDL) Stock?

Shares of Canadian cannabis company Sundial Growers Inc. SNDL closed more than 8% higher in Wednesday’s regular trading session.

What Happened: While there was no company-specific news that contributed to the surge, Sundial’s shares seemed to rise in sympathy with peer Tilray Inc. TLRY.

Tilray’s shares surged on Wednesday after the company reported a surprise profit for the fourth quarter, its first earnings results following its merger with rival Aphria Inc. in May.

See Also: EXCLUSIVE: Tilray CEO Irwin Simon Discusses Earnings Report, Stock Surge On Benzinga Cannabis Hour

Why It Matters: Sundial is seeing high interest from retail investors and is a frequently mentioned stock on Reddit’s r/WallStreetBets forum that has 10.7 million members. Tilray has emerged as the second-most discussed stock on the WSB forum, as of Wednesday night.

See also: How to Buy Sundial Growers (SNDL) Stock

The latest weekly survey conducted by Benzinga showed that Sundial Growers was the second-most preferred cannabis stock, just behind Tilray, by traders for investment.

About 14.4% of Sundial’s float is short, as per the latest available data from Yahoo! Finance.

Price Action: Sundial shares closed 8.1% higher in Wednesday’s trading session at $0.85.

Read Next: Sundial Vs. Tilray Vs. Aurora Cannabis: Which Retail-Favorite Cannabis Stock Gave Best Returns In First Half Of 2021?