Ladies and gentlemen, SNDL stock has not had this high of a short interest or utilization since it squeezed to almost $3 per share. Keep in mind this stock’s IPO price started above $10 per share back in 2019.
One thing I’ve learned about investing in momentum stocks is that the data does not lie.
I’m going to go over the Ortex data and provide my personal SNDL stock predictions.
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What Is SNDL Stock?
SNDL stock is the stock for Sundial Growers Inc., a licensed cannabis producer based in Canada that promotes health, happiness, and well-being.
Sundial Growers stock became popular on Reddit’s r/wallstreetbets when retail investors discovered how heavily shorted this stock was.
Retail investors were able to squeeze a few shorts out of their positions, allowing Sundial stock to rise nearly up to $3 per share.
But how soon will it reach $1 again?
Sundial stock is trading just cents below $1 per share.
The last time we saw SNDL stock at $1 per share was back in June.
Friday’s rally pushed the stock to $0.92 with 877,850,670 volume.
The average volume is around 99 million.
Will shorts finally get squeezed out of their positions?
How Do You Buy SNDL Stock?
A few of you may be wondering how to exactly buy SNDL stock.
If you aren’t investing in the stock market yet you’ll need to open a brokerage account first.
Once you set this up and fund your account, you will be ready to go!
You can ready my step by step guide on how to invest in the stock market for beginners here.
But if you’re already holding the stock, lets dive right into the data!
Short Interest Has Been Surging Again
Retail investors all want to know, will SNDL go up again?
I certainly think it will. But it will need momentum from the community to bring it back to life.
See what happened was that when retail investors squeezed some shorts out of their positions, other shorts got in and made money during the selloff.
They were able to borrow high and take profits low.