Delta 9 Cannabis Inc DLTNF

Tough times all around!

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from FXstreet

Sundial was granted another extension by the NASDAQ to remain listed on the exchange. This extension is good through August 8th, which gives the company just over a month to get its stock price back over $1.00. The stock hasn’t closed over $1.00 per share since June of 2021. Sundial might need to have shareholders vote on a reverse split to remain listed. Reverse splits are often seen as a bearish sign that the company is struggling. Oddly enough, Sundial is sitting at a fairly strong financial position, and is actively looking for more acquisition targets. The company recently made a stalking horse bid for the assets of the now bankrupt Zenabis which is a subsidiary of Hexo (NASDAQ:HEXO).

and TSE:WEED. Canaccord reiterated its Sell rating for the stock and slashed its 12-month price target from $4.50 to $3.50.