What’s the update on Sundial Growers Inc. (Nasdaq: SNDL) Stock? – Invest Chronicle

What’s the update on Sundial Growers Inc. (Nasdaq: SNDL) Stock?

Sundial Growers Inc. (Nasdaq: SNDL) recently announced that it had repaid $50 million of its outstanding term loans to further strengthen the company’s balance sheet. All amounts are denominated in Canadian dollars unless noted.

Repaying the debt will result in an annualized savings of $2.5 million in interest costs. The company’s indebtedness, including the Facility, is approximately $22 million. Its cash balance is currently about $39 million.


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Sundial’s Chief Financial Officer, Jim Keough, said the fast-tracked repayment of a significant portion of its debt is a further step toward advancing its financial flexibility and reducing its overall cost structure. Our current cash position allows us to focus on future strategic opportunities and to refine our capital structure. It represents a significant turnaround from our financial position earlier this year.

The stock is currently trading at a distance of 31.69% from the 200-day simple moving average. On December 18, 2020, its volume was 206.71M compared to the 3-month average volume of 114,181,677.

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