Why the price jumped after hours
- Sundial Growers Inc (NASDAQ: SNDL) stock price rose 8.62% after hours today. That’s why it happened.
Sundial Growers Inc (NASDAQ: SNDL) stock price rose 8.62% after hours today. Investors react positively to an announcement from the company.
Sundial Growers has announced that it has received an extension of 180 calendar days to regain compliance with Nasdaq’s minimum bid price requirement. As previously reported, Sundial was advised by Nasdaq on August 9, 2021 that the offering price for its common stock did not comply with Nasdaq’s minimum offering price requirement.
At that time, Sundial was expected to come into compliance by February 7, 2022. And the extension will allow the company to come into compliance if the bid price for the company’s common stock closes at or above US$1.00 per share for a minimum of 10 consecutive trades. days before August 8, 2022.
Sundial plans to monitor the closing bid price of its common stock and has provided written assurance to Nasdaq that it will implement (if necessary) available options to restore compliance with the minimum bid price requirement, including a reverse stock split.
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