Over the prior few years, cannabis-related businesses have attracted a lot of investor attention. Sundial Growers is one such company that has grown in popularity – particularly as a meme stock.

In this guide, we show you how to buy Sundial Growers stock with a regulated broker at 0% commission.

We also discuss whether Sundial Growers has the potential to become a solid investment based on its current performance and future prospects.

How to Buy Sundial Growers Stock – Quick Guide

When considering where to buy Sundial Growers stock, we suggest partnering with an SEC-regulated broker such as eToro. This social trading platform lets users invest in stocks at 0% commission.

The following steps will show how to invest in Sundial Grower stock in less than a five minutes:

  • Step 1: Open an eToro Account
    Get started by visiting eToro and creating an account. This entails providing an email address and a username. New users will also be required to assign a password.
  • 💳 Step 2: Upload ID
    Next, provide some basic personal information in order to complete the KYC process. This includes submitting details such as a full name, date of birth, and contact number – along with a document that verifies the personal details provided. 
  • 🔎 Step 3: Deposit
    Fund the newly-created account through an accepted payment method, such as a credit/debit card, bank transfer, or e-wallet. The minimum deposit required from US users is only $10 and no funding fees are charged.
  • 🛒 Step 4: Buy Sundial Growers Stock
    To buy Sundial Growers stock, type the company name, or ‘SNDL’ into the eToro search bar. Then, click on the ‘Trade’ button to load an order box. Here, specify the amount to be invested in Sundial Growers stock and use ‘Open Trade’ to place the order.

eToro allows users to buy Sundial Growers stock from as little as $10.

For those who need a more comprehensive explanation of how to buy stocks on eToro, we have included a detailed walkthrough at the end of the guide.

Step 1: Choose a Stock Broker 

The easiest way to buy Sundial Growers stock is via an online broker. However, there are many platforms that claim competitive fees and attractive features – and as such, it is not an easy undertaking to find a suitable provider.

To help make the decision easier, below we list the two most popular online brokers that provide access to Sundial Growers stock.

1. eToro – Overall Best Place to Buy Sundial Growers Stock

eToro is a regulated broker that allows users to buy Sundial Growers stock in the US. This platform facilitates investing in global and international stocks and ETFs at 0% commission. Users can also access the commodity and forex market on a spread-only basis, or trade cryptocurrencies at a fee of just 1%.

The platform was launched in 2007 and has grown tremendously over the years – now catering to more than 25 million users worldwide. It gives customers access to 17 different global exchanges and supports fractional trading of over 2,500 stocks. On eToro, investors can buy Sundial Growers stock from a minimum of just $10.

eToro

Moreover, users can also fund their accounts with a deposit as low as $10, eToro accepts multiple payment methods – ranging from conventional bank transfers to instant debit/credit card transactions. Not only that, but users can also use money in their e-wallet account – with supported providers including PayPal and Neteller, to settle their stock purchases.

It also turns out that eToro does not charge fees for users depositing US dollars. In addition to a low-cost fee structure, eToro also comes with a wide selection of trading tools – including technical indicators and price charts. eToro also features a Copy Trading tool, which allows users to duplicate the trades opened by other investors on the platform.

eToro Smart Portfolios

As a social trading platform, eToro also comes with a news feed where users can share their thoughts on the stock market. For those looking to diversify, the broker has also designed Smart Portfolios that contain different stocks belonging to multiple sectors.

The minimum stake required for Smart Portfolios is $500 and there is no need for investors to do any rebalancing – eToro’s experts will take care of that.

eToro also has a high level of security. It is regulated on multiple fronts by top-tier financial authorities – such as the SEC in the US, FCA in the UK, CySEC in Cyprus, and ASIC in Australia. Users can also access eToro via its full-featured mobile app. This is free to download and is available on both iOS and Android devices.

Number of stocks 2,500+
Deposit fee Free
Fee to buy Sundial Growers stock 0% commission + spread
Minimum deposit $10

What We Like:

  • Gives access to over 2,500 stocks
  • Buy Sundial Growers stock at 0% commission
  • Minimum deposit and trade size is only $10
  • Regulated by numerous top-tier entities
  • Accepts debit/credit card deposits, bank transfer, and e-wallets like PayPal
  • User-friendly platform with demo account

Your capital is at risk. 68% of retail investor accounts lose money when trading CFDs with this provider.

2. Webull – Buy Sundian Growers Stock From $5

webull logoWebull is another easy-to-use broker that provides excellent trading functionality. The platform is regulated by the SEC and gives users access to over 5,000 stocks. It also supports international equities in the form of ADRs.

However, the o% commission structure is applicable only for US stocks. This means that while users can buy Sundial Growers stock with no fees, those wishing to diversify into non-US markets will have to consider extra charges. In addition to equities, Webull also supports options trading, ETFs, and cryptocurrencies.

Webull

In terms of deposit methods, Webull accepts payments via ACH and bank wires. However, credit/debit card transactions are not yet supported, nor are e-wallets. It is also important to note that Webull charges a flat fee of $8 for bank wire transfers.

More importantly, Webull does not impose a minimum account balance requirement. With the broker’s fractional trading feature, users can start investing in stocks from just $5. Webull also comes with a convenient app, making it easy for users to buy Sundial Growers stock and cash out their investments on the go.

Number of stocks 5,000+
Deposit Fee ACH – free / Bank wire – $8
Fee to buy Sundial Growers stock 0% commission + spread
Minimum deposit $0

What We Like:

  • Supports over 5,000 stocks
  • Buy Sundial Growers stock at 0% commission
  • No minimum deposit requirement
  • Regulated by the SEC
  • Buy stocks in fractions from $5

Your capital is at risk.

Step 2: Research Sundial Growers Stock

One of the most crucial steps when learning how to invest in stocks is to understand the different ways to research a company. It is never a good idea to make investment decisions based on stock market movements alone.

Rather, one should look into Sundial Grower’s annual reports and business model to arrive at an informed decision.

Investors will be able to gather information about the company from SEC filings, earnings reports, and recent news.

In this section of our guide, we provide an overview of what users need to know before setting out to buy Sundial Growers stock.

What is Sundial Growers? 

Sundial Growers is a company engaged in the production, distribution, and sale of cannabis derivative products.

The firm was established in 2006 and is a licensed producer of small-batch cannabis in Canada. Its business is analyzed under four segments  – cannabis production and cultivation, cannabis retail, liquor retail, and investments.

It is important to note that Sundial Grower has come a long way since its initial days.

  • At the time of its launch, Sundial derived its revenue solely from the cultivation and sale of cannabis.
  • Then, in 2021, the company caught the attention of Reddit and soon emerged as one of the best meme stocks of the year.
  • This popularity made way for Sundial to raise cash several times over, which it might not have been able to do otherwise.
  • Sundial has since started investing in retail shops and diversifying its operations into the liquor sector.

In a nutshell, Sundial Growers is working toward strengthening its portfolio for generating long-term profits. That being said, the company also faces challenges in the cannabis market.

As we move forward with the guide, we will discuss the factors that are in favor of Sundial Growers and the risks that need to be considered before parting with any capital.

Sundial Growers Stock Price – How Much is Sundial Growers Stock Worth?

Sundial Growers had its initial public offering (IPO) in 2019. Although a Canadian company, the stock is listed on the NASDAQ.  The value of Sundial Growers stock started trading at $13 and closed for the day at $8.48 – which is nearly 35% below its IPO price.

However, this was primarily due to the general market sentiment towards cannabis companies at the time. For instance, some Canadian cannabis businesses had previously faced regulatory issues, which had reflected badly on this segment of the stock market.

Sundial Growers

Post the IPO, Sundial Grower remained a small-time player. By September 2020, SNDL stock was trading at around $0.25, generating significant operating losses. According to analysts, the company was about to face bankruptcy alongside the added risk of being delisted from the NASDAQ.

However, in 2021, traders on Reddit took a liking to the company. Sundial Growers gained in popularity as a meme stock and even hit the $4 mark in February 2021. That being said, this frenzy did not last long. Since early 2021, Sundial Growers stock price has plummeted. In March 2022, Sundial witnessed a short period of bullishness again – gaining by about 25%.

However, past that, the stock hasn’t witnessed any solid gains. Over the prior one year of trading, Sundial Growers stock is down 67%. Over a five-year prior, the stock has lost over 96% of its value. As such, if you do decide to buy Sundial Growers stock, you can invest at a significant bargain.

EPS 

The EPS is a metric commonly used by investors when deciding whether a stock is worth their attention.

The EPS indicates how much money a firm makes for its stockholders.

Here is an overview of how Sundial Growers have performed in terms of EPS estimates.

  • For Q3 2021 – EPS beat by 3,900.00%
  • For Q4 2021 – EPS missed by -97.00%
  • For Q1 2022 – EPS missed by -4,870.00%

Although the company continues to miss its EPS estimates, its prospects have improved. For instance, for Q1 2022, the diluted EPS was -0.02, which represented a 78% increase year-over-year.

P/E Ratio 

The P/E ratio measures the value of a stock relative to its earnings. Typically, a high P/E ratio suggests that the stock is expensive and that its value might fall in the upcoming years.

On the contrary, a low P/E ratio might indicate that the company is undervalued.

In the case of Sundial Growers:

  • The P/E ratio for 2021 was -3.77.
  • For 2022, the P/E ratio is expected to be -18.86.

The P/E ratio of a company is often analyzed by comparing it to that of its peers. So, when considering other cannabis stocks such as Green Thumb, or Innovative Industrial – the P/E ratio ranges between 18 to 27.

In comparison, Sundial grower’s P/E ratio is negative – meaning the stock has been losing money over the past 12 months.

Capital Raise 

Another factor to consider about Sundial Grower is the company’s penchant for diluting stockholders. It’s no news that firms that go public issue more stock to raise cash. However, Sundial has done it several times, which increased the stock count by over 2,000%.

This is also one of the reasons why Sundial continues to be among the best penny stocks in the market. That being said, in an effort to bring up the SNDL stock price to $1, the company has announced that it will buy back equities worth CAD $100 million.

The stock repurchase program started on November 19, 2021, and is expected to expire on November 19, 2022.

Nevertheless, Sundial Grower’s dilutive practices have also left the company flushed with cash. The firm used the money from selling stocks to pay off its long-term debt. This has helped build a healthier balance sheet.

Sundial Growers Stock Price Prediction 

Commentators argue that the change in the business structure of Sundial Growers presents an attractive opportunity for growth. And as such, Sundial has the potential to climb back up in the stock market in the near future.

When looking for a Sundial Growers stock price prediction, it is important to consider the firm’s history of extreme volatility. Furthermore, past performance never guarantees future results and as such, this can not always be relied on.

Sundial Growers

It remains to be seen whether Sundial Growers stock price will rise above $1 anytime soon. Moreover, it is best to avoid price predictions when deciding on whether or not to put money in this firm.

Rather, the smarter way would be to conduct an independent analysis of the company’s financials.

Sundial Growers Stock Dividends

If looking for the best dividend stocks, Sundial Growers will not be of interest. Crucially, this company does not pay any dividends and has not indicated that it plans to do so in the future.

As we noted earlier, Sundial Growers is focusing on investing in retail stores and making other acquisitions. This can increase the value of the company and thus – can turn out to be a good move for investors in the long run.

Is Sundial Growers Stock a Good Buy?

There is no direct way to answer the question – is Sundial Growers a good stock to buy. After all, there is a certain level of risk tied with all investments, and nothing is ever guaranteed in the stock market.

Nevertheless, those who are interested in Sundial Growers stock might want to consider the following benefits of owning this stock.

Diversified Portfolio 

As we noted earlier, Sundial Growers has crafted a strategy to take advantage of its sudden popularity to branch out. While it continues to focus on the cannabis market, the company is also investing heavily in the liquor sector.

Its brand portfolio includes Sundial Cannabis, Palmetto, Grasslands, and Top Leaf. In the final quarter of 2021, Sundial Growers also announced the acquisition of Alcanna – one of the largest retailers of alcohol in North America.

This deal gives Sundial Growers a much better retail footprint that spans the cannabis and liquor markets. In fact, this makes Sundial the largest private-sector liquor retailer in Canada, with over 170 locations.

Moreover, this deal also gives Sundial the opportunity to expand its retail cannabis operation by 78 stores through Alcanna’s majority-owned subsidiary, Nova Cannabis.

Put otherwise, Sundial now has more levers to pull, which can help diversify its business.

Increasing Revenues

In April 2022, Sundial Growers released its Q1 earnings report, indicating a net revenue of CAD $17.6 million. This represents a 78% increase year-over-year.

Its gross margin also witnessed a 199% growth year-over-year. Notably, revenue numbers for neither Alcanna nor Nova Cannabis are not included in its Q1 2022 report.

Meaning, that revenue could be much higher. Nonetheless, Sundial Growers has managed to increase its overall profits from the prior year. This comes as good news to investors.

Cannabis Industry Has Room to Grow

At its core, Sundial Growers still fits into the category of a cannabis stock. And it is important for investors to keep in mind that this sector still has a high growth trajectory.

  • While Sundial Growers operate primarily in Canada, with its acquisition of Alcanna, it also has the opportunity to venture into the American market in the future.
  • With more US states legalizing Cannabis, Sundial’s targetable market is growing.
  • Moreover, consumers within the existing marketplace are also becoming more interested in cannabis and related products.

This can work out well for Sundial Growers, given that the company is able to beat its competitors.

Sundial Grower Risks

Sundial Grower has improved significantly over the years. The company posted a profit in Q1 2022 and has successfully acquired Alcanna.

However, none of these factors are sufficient to outweigh the fact that there are many other candidates in this market – most of which have better prospects.

If considering the best cannabis stocks in the US, you might want to look past Sundial Growers. Some of the prominent players –  such as Innovative Industrial, GrowGeneration, and Trulieve, already have a leading market share in the cannabis sector.

Sundial growers comparison

Secondly, as long as the recreational cannabis market remains illegal at the federal level in the US, Sundial will not be able to compete with other big players in the space.

Another crucial consideration is that Sundial Grower stock has been trading below $1 since July 2021. This also presents a risk of the stock getting delisted from the NASDAQ exchange.

In other words, before setting out to buy Sundial Growers stock, investors should consider how much risk they can handle.

Step 3: Open an Account & Buy Stock

Finally, when ready to buy Sundial Growers stock, investors can visit their chosen brokerage site to purchase the equity.

For beginners, we have created a step-by-step breakdown of how to buy Sundial Growers stock at commission-free broker eToro.

Step 1: Open an eToro Account

Head over to eToro’s website to create a free account. Users can get started by clicking ‘Join Now’ and filling in the required details.

This includes an email address, as well as a username and password.

etoro review

Next, click on the ‘Create Account’ button. Users will have to confirm their email addresses before proceeding.

Step 2: Upload ID

When using an SEC-regulated broker like eToro, it is mandatory for all users to complete a KYC verification process.

To complete this step, users will need to provide some personal information – such as a full name, date of birth, home address, and phone number.

In addition to this, eToro users will have to verify the information they have provided,

This requires the submission of two documents:

  • Proof of ID – such as a copy of a driver’s license or passport
  • Proof of Address – such as a copy of a bank statement or utility bill issued within the last three months

eToro will then check these documents and notify users when the verification is completed. The entire process is automated on eToro and takes only a couple of minutes – given that everything is in order.

Step 4: Search for Sundial Growers Stock

As we noted above, eToro has over 2,500 stocks listed on its platform.

As such, the simplest way to locate Sundial Growers is to search for the stock.

Sundial

Users can find the search bar on top of the eToro page. Simply enter ‘SNDL’, or ‘Sundial Growers’ here to find the stock. When the result appears, click on ‘Trade’.

Step 5: Buy Sundial Growers Stock

Upon clicking the ‘Trade’ button, eToro will load up the order box for this particular stock.

Here, users can specify the investment amount.

buy SNDL etoro

The minimum stake amount required is only $10. To finalize the investment, use the ‘Open Trade’ button at the bottom of the order box.

eToro will then execute the order and users can find the stock added to the portfolio section of their account.

Sundial Growers Stock Buy or Sell?

Sundial Growers is not a business with wide profit margins. However, the stock presents a renewed investment opportunity, after its recent acquisitions of Alcanna and Nova Cammabos.

Furthermore, revenues have increased over the prior year and from the looks of it – the company could continue to generate more income in the coming quarters.

Analysts suggest that the company is currency undervalued, considering its prospects. Moreover, at less than $0.50, many might find Sundial Growers stock to be heavily discounted. As we noted above, the firm is looking to branch out into the retail market.

eToro sundial

Many Sundial Growers stock forecasts suggest that it will breach the $1 mark soon. And with abundant cash flow, the company could manage to pull off a transformation, given that management delivers on its roadmap targets.

Having said all that, Sundial Growers stock presents a number of risks. It stands the chance of being delisted from the NASDAQ exchange and is facing stiff competition in the market.

Nonetheless, investors might find this stock a good fit for their portfolio if they are prepared to take on enhanced risk to target higher returns. Either way, Sundial Growers stock is best viewed as a long-term investment.

Conclusion

This guide has discussed how to buy Sundial Growers in detail – covering some basic information about the company and its future prospects.

That being said, we urge all investors to perform independent research to determine whether SNDL stock is a match for their portfolio.

Crucially, investors should be careful in choosing a broker to buy Sundial Growers stock. We like eToro for this purpose.

The platform is heavily regulated and facilitates 0% commission trading for both domestic and international stocks. Plus, you only need to allocate $10 when you buy Sundial Growers – so you don’t need to risk large sums of money.

etoro logo

Your capital is at risk. 68% of retail investor accounts lose money when trading CFDs with this provider.

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