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Will Sundial Growers' Banking Play Make Investors Rich?

·5 min read
Will Sundial Growers' Banking Play Make Investors Rich?

Case in point: The much-maligned Sundial Growers (NASDAQ: SNDL) recently took advantage of its WallStreetBets-driven share price surge to issue a boatload of new stock and warrants, thereby raising enough money to completely change the trajectory of the company. Currently a business that is focused on growing cannabis for sale in Canada, Sundial is now in a position to go global -- but not in the way that investors might expect. Sunstream Bancorp, the joint venture Sundial announced in March with Canadian alternative investment management firm SAF Group, aims to make money by issuing loans and investing in cannabis companies and marketable securities.