What's Going On With Pot Stock SNDL Inc?

SNDL, Inc. SNDL shares are trading lower Thursday. The stock gained 15% earlier this week after the company reported its third-quarter financial results and renewed its share repurchase program.

What To Know:

SNDL released its third-quarter financial results on Monday and reported losses of C$0.08 per share, up from losses of C$0.41 per share from the same quarter last year. The company reported quarterly sales of C$237.59 million, up from sales of C$230.5 million from the same quarter last year.

SNDL reported a quarterly net loss of C$21.8 million, a 77.9% improvement over the net loss of C$98.8 million from the same quarter last year.

Zach George, CEO of SNDL stated, "SNDL's positive net cash from operating activities and first quarter of free cash flow generation marks a pivotal milestone, reflecting our team's commitment to operational and financial excellence."

"We are intent on realizing SNDL's potential for improved profitability, material growth and greater efficiencies across all of our segments."

According to data from Benzinga Pro, shares of SNDL are trading below the stock's 50-day moving average of $1.69 and near its 52-week low of $1.25.

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SNDL Price Action: According to Benzinga Pro, SNDL Inc. shares are down by 5.6% at $1.42 at the time of publication.

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