Are these pot stocks set for next big rally?

November 12, 2021 05:18 PM PST | By Ipsita Sarkar

Are these pot stocks set for next big rally? — Image source: shamiss, Shutterstock

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Highlights

The Sundial Growers Inc. (NASDAQ:SNDL) stock grew 30.89% YTD.

Sundial’s gross revenue was US$15.52 million in the third quarter of FY21.

Tilray, Inc(NASDAQ:TLRY) revenue was up 43% YoY in Q1, FY22.

Stocks of Sundial Growers Inc(NASDAQ:SNDL) and Tilray, Inc(NASDAQ:TLRY) have gained strong traction over the past two weeks.

On Friday morning, the Sundial stock traded at US$0.8322, up more than 15%, while the TLRY stock traded at US$12.175, up over 2.6%, from their previous closing prices.

Here we discuss their stock performance.

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Sundial Growers Inc(NASDAQ:SNDL)

It’s a Calgary, Canada-based company and produces and sells cannabis products in Canada.

It has a market cap of US$1.69 billion and a forward P/E one year of -9.00Its EPS is US$-0.18.

The 52-week highest and lowest stock prices were US$3.96 and US$0.24, respectivelyIts trading volume was 164,153,000 on November 11.

The company's gross revenue was US$15.52 million in Q3, FY21, compared to US$11.02 million in the year-ago quarterFor the latest period, it reported net earnings of US$11.3 million, up 116% from a loss of US$71.4 million in the same quarter of the previous year.

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Tilray, Inc(NASDAQ:TLRY)

Tilray is a pharmaceutical and cannabis company based in Toronto, CanadaIt cultivates and sells cannabis in Latin America, Australia, Portugal, Germany, etc.

Its market cap is US$5.53 billion, and the forward P/E one year is -45.62Its EPS is US$-1.93.

The stock saw the highest price of US$67.00 and the lowest price of US$6.66 in the last 52 weeksIts share volume on November 11 was 17,104,050.

The firm's revenue jumped 43% YoY to US$168 million in Q1, FY22, compared to US$117 million in the first quarter of the previous yearIts net loss came in at US$34.6 million against a loss of US$21.7 million in Q1, FY21.

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Bottomline

Both the stocks saw significant growth in the recent quartersThe SNDL stock jumped 30.89% YTD, while the TLRY stock grew 31.78% YTDExperts predict significant growth for the industry in the US as more states have legalized marijuana for medicinal and leisure useMeanwhile, various media reports claim that Republican senator Nancy Mace has prepared a draft cannabis bill for discussion.

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