After two weeks of consolidating below resistance at the one dollar level, shares of Reddit favorite Sundial Growers Inc. (NASDAQ:SNDL) have resumed their downtrend.
This isn’t surprising. There were two reasons why the stock soared in February: it’s a penny stock and a cannabis company. There were no true fundamental reasons for the move.
There’s a good chance shares continue to trend even lower. Over the past two years, this company has lost about $400 million and many analysts predict it will lose money this year as well.
