Cannabis Stocks React On Election Day, SNDL Surges While Trulieve Raised The Stakes
SNDL Inc. (NASDAQ:SNDL) rose over 10% on Election Day at market close, following the release of its third-quarter earnings, reporting CA$236.9 million ($170.65 million) in revenue.
Although the company faced a slight decline in its liquor retail segment, its core cannabis operations showed strong growth.
SNDL’s record gross margin, positive cash flow and cash reserves of over CA$263 million with zero debt-fueled investor confidence.
In contrast, Trulieve Cannabis Corp. (OTC:TCNNF) saw an 8% decline in its stock, attributed to both its Q3 earnings report and what might be the boldest move in the cannabis industry so far, since the company has made a significant investment …