On Wednesday September 14th SNDL Inc. (SNDL) a Cannabis Stock went Up due to the announcement of an in international export deal with Israel. However, it quickly fell through support. Was it a head fake? Is it the bottom and it’s ready to bounce? Keep reading to find out.
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SNDL Inc. Company Information
Company Name: SNDL Inc.
Ticker: SNDL
Exchange: NASDAQ
Website: https://www.sndl.com/
Sundial Company Summary:
SNDL is the largest private sector liquor and cannabis retailer in Canada with retail banners that include Ace Liquor, Wine and Beyond, Liquor Depot, Value Buds, and Spiritleaf. SNDL is a licensed cannabis producer that uses state-of-the-art indoor facilities to supply wholesale and retail customers under a cannabis brand portfolio that includes Top Leaf, Sundial Cannabis, Palmetto, Spiritleaf Selects, and Grasslands. SNDL’s investment portfolio seeks to deploy strategic capital through direct and indirect investments and partnerships throughout the global cannabis industry.
Sundial stock price is due to News?
Sept. 15, 2022
Today announced that SNDL has completed its initial international export of approximately 167 kilograms of premium dried flower from Canada to Israel as part of its total commitment with IMC. SNDL and IMC have agreed to the aggregate export of 1,000 kilograms of high-quality dried flower products for processing and distribution in the Israeli medical cannabis market.
The expansion marks a significant milestone for SNDL as it enters the global market. “We are pleased with our partnership with IMC, one of Europe’s most established and trusted medical cannabis companies,” said Andrew Stordeur, President and Chief Operating Officer of SNDL. “SNDL plans to opportunistically expand the Company’s premium inhalables footprint to international cannabis markets, and this initial endeavour strengthens our pursuits in both established medical markets and emerging global recreational markets.”
For IMC, the completed export marks another major step forward in streamlining its expansive global operations that include Israel, Canada, and Germany. “The medical cannabis market in Israel has shifted towards premium and ultra-premium cannabis products. By forming an international partnership with SNDL, we are improving our global supply chain and enhancing our ability to provide the Israeli market with the high-quality products it has come to expect,” said Oren Shuster, Chief Executive Officer of IM Cannabis.
SNDL views the international market as an emerging opportunity to increase revenue from its cannabis operations. The Company is optimistic that an increasing number of global markets will refine regulations, allowing for lower-barrier access to high-quality cannabis products produced by trusted suppliers from Canada.
SNDL 5 Day Chart
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The announcement Todaythat SNDL has completed its initial international export of approximately 167 kilograms of premium dried flower from Canada to Israel as part of its total commitment with IMC is a groundbreaking deal for the cannabis industry and for SNDL.
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