How to buy Sundial Growers shares (SNDL)

Sundial Growers is a Canadian cannabis producer that has grabbed the interest of the retail investors over the last year. Learn all about the company and find out how to buy Sundial shares right here.
By: James Knight
James Knight
James is the lead content editor for Invezz, covering the stock market, cryptocurrency, and macroeconomic markets. Outside of work,… read more.
Updated: Mar 29, 2022
Tip: our preferred broker is, eToro: visit & create account

This is a beginner’s guide to Sundial that explains what the company does and why it’s become a popular investment. Then, it explores where you can find its shares, and what you should look out for if you’re thinking about owning them.

Compare the best Sundial Growers trading platforms

If you’re just looking for the best broker or trading platform to use, then the table below has everything you need. These are the top platforms as chosen by our team of experts and ideal for beginners and experienced users alike. If you want to learn more about Sundial first, keep reading.

1
Min. Deposit
$10
Promotion
User Score
10
Trade/invest in stocks with just $10
Deposit with ACA, Wire, Pay with my bank
Invest for dividends and get payout on stocks on Ex-Dividend day
Start Trading
Description:
eToro is a multi-asset investment platform with more than 2000 assets, including FX, stocks, ETF’s, indices and commodities. eToro users can connect with, learn from, and copy or get copied by other users. Buying stocks on eToro is free and you can invest with as little as $50.
Payment Methods
Bank Transfer, Wire Transfer
Full regulations list:
CySEC, FCA
Investoo Ltd is compensated if you access certain of the products or services offered by eToro USA LLC and/or eToro USA Securities Inc., as applicable. This compensation incentivizes Investoo Ltd to describe those products and services in favorable terms. Any testimonials contained in this communication may not be representative of the experience of other eToro customers and such testimonials are not guarantees of future performance or success.
2
Min. Deposit
$0
Promotion
User Score
9.3
$0 commission and $0 Options contract fees
Upgraded research with advanced charts
Smart Menus for faster trades
Start Trading
Description:
Firstrade is a leading online brokerage firm offering a full line of investment products and tools designed to help investors like you take control of your financial future. Since its founding in 1985, Firstrade has been committed to providing high value and quality services to help you reach your financial goals.
Payment Methods
Full regulations list:

How to buy Sundial Growers stock, a step-by-step guide

It isn’t complicated to get shares in Sundial Growers, so don’t worry even if you’re new to stock investing. These are the steps to follow in order to complete your investment:

  1. Choose a broker. You will need to use an online brokerage platform. There are many different options to choose from, each with their own unique benefits and drawbacks. The comparison table above can help you select the right broker for you, and you can head to our comprehensive broker reviews if you’re still unsure.
  2. Create an account. Once you’ve selected your broker, simply go to their website and create an account. The steps required for this will vary from platform to platform, but generally you can expect to have to provide your name, email address, phone number, and some form of photo identification.
  3. Deposit funds. Log into your broker account and select the option to deposit funds. Depending on your broker you’ll have a variety of payment options available; most brokers accept bank transfers and debit card payments, but not all accept e-wallets such as PayPal. Select your preferred payment method and deposit the amount of money you wish to invest in Sundial Growers shares.
  4. Place an order for SNDL stock. Search for Sundial Growers’s ticker symbol (SNDL) and see the current price at which the stock is trading. If you’re happy with the price, enter the amount of shares you want and place your order.
  5. Execute your order. Once you have placed your order, your broker will automatically execute it for you and your Sundial Growers shares will be listed in your account. Congratulations, you’ve just bought shares in Sundial Growers.

What is Sundial Growers? And should I invest?

Sundial Growers is a cannabis producer that sells weed products like pre-rolls and inhalants online. It controls the manufacturing process all the way from harvest to point of sale. Sundial is based in Canada and only does business there, at the moment.

The company burst into the public consciousness in early 2021, as a ‘meme stock’, imitating the rise of the likes of GameStop and AMC Entertainment. Sundial’s actual business performance hasn’t matched up to the hype yet, but the weed industry has potential and the company has undergone something of a transition to try to improve its fortunes.

The interest in Sundial comes from investors looking for the next penny stock that hits it big. Penny stocks are risky but not necessarily bad: the best ones can return 5, 10, or many more times your original investment. Just be aware that it often doesn’t, and so it’s a good idea to spread your money around across a few different ones to give you the best chance of success.

How has the company performed in recent years?

It has been an extremely rocky ride since the company first listed on the stock exchange in August 2019. The share price fell 35% on the first day, and by January 2021 was down 99%, available at less than 50 cents, having started at $10.50 eighteen months earlier.

Poor financials and issues with the quality of its product is what first attracted short sellers to the stock. These tend to be big institutional investors or hedge funds who essentially bet on a company to fail by loaning shares that they immediately sell, with the aim of buying them back later at a lower price to repay the debt.

By the end of 2020, two-thirds of Sundial’s stock had been ‘sold short’ in this way. That attracted the attention of the WallStreetBets crowd, who bought lots of stock themselves to try to force up the price and create a short squeeze. Their efforts caused serious volatility: the price surged up to $4 and then back down to $1.50 over two weeks in February.

Is it a good time to buy Sundial shares now?

It depends on how high your risk tolerance is. This is not an expensive stock, and you can make a lot of money if it hits it big. Make sure to be careful, though, as it has lost money consistently and is in the middle of a transition to a more streamlined business based on supplying premium products, rather than acting as a wholesaler.

The argument for buying now is based on the legalisation of marijuana in the United States, thanks to a vote in the House of Representatives. US legalisation would open up a huge new market and give the best weed stocks a huge boost. The question is whether you think Sundial is one of those; a cause helped by the fact that the company wiped out all of its debt last year and posted a small adjusted profit for the first time.

In a cannabis market that some bullish commentators predict could be worth $200bn by the end of the decade, there is real growth potential for a successful company. Whether Sundial will be that company is questionable, but you can track its on-going battle with the short sellers and keep up with the latest news in the links below.

Sundial Growers (NASDAQ: SNDL) stock has advanced more than 150% since the beginning of January, and the current price stands around $1.03. The current share price does not represent a good value for long-term investors, but it could advance even more in the ongoing bull market. Fundamental analysis: Revenue…

Buying, selling and trading Sundial Growers shares for beginners

What to do before buying shares

You should always take the time to research a stock fully before investing your money, especially if you haven’t bought shares before. The more knowledge you have, the better your chances of making a wise move. With that in mind, here’s a checklist to run through before you start.

  1. Research the company. You should always examine the fundamentals of a company first. What is Sundial Growers? How did the company get its start? How did it grow? Is Sundial Growers’s revenue and profit growth picking up? Is the company innovating? The more you know about Sundial Growers, the better positioned you’ll be to make smart investment decisions.
  2. Make sure you understand the basics of stock investing. Before getting involved in the stock market, make sure you have an understanding of how it works. This will ensure that you have more clearly defined goals and have thought through how you will achieve them.
  3. Decide between share dealing and CFD trading. Choose the type of investment strategy you want to pursue, and make sure you have carried out the necessary fundamental or technical analysis for share dealing and CFD trading respectively.
  4. Set the size of your budget. The golden rule of investing is never to risk more than you can afford to lose. Not every investment you make will result in a profit, so it is important to set a budget that not only allows good potential for capital growth, but also protects against overly damaging losses.
  5. Find the right broker. Individual brokers each have their own pros and cons. Some will have low fees but have a user interface you struggle to understand, whereas others may be a bit more expensive but come with a range of features that you want to take advantage of. Our resources can help you find the best platform for you.
  6. Examine broader market conditions. No stock exists in a vacuum, and it’s always important to analyse the general trends of the stock market as a whole before investing. If a bear market is setting in and stock prices are falling, it’s best to wait it out and invest your money later when the stock is cheaper. If, however, the market is looking bullish, you’ll want to make your investment quickly to get the maximum benefit from rising stock prices. Our news can help you keep on top of movements in the financial markets.

What is the difference between buying, selling, and trading shares?

If you’re new to stock investing, then it’s important to understand the basics of how to buy, sell, and trade Sundial Growers shares. Here’s a quick run-through of what’s involved in each.

Buying Sundial Growers

This process involves finding a broker and placing an order for Sundial Growers stock, as outlined in the steps further up this page. Ideally you want to time your investment when the stock’s price is low so that you can profit by selling the shares after they increase in value.

Selling Sundial Growers

When you sell any Sundial Growers shares you have bought, you’ll want to do so at a higher price than the one at which you bought to earn a profit. 

When you sell is up to you. You might decide to hold for a long period of time, hoping to benefit from the company growing steadily throughout. Or, if you see that Sundial Growers’s stock is already up a lot compared to the price you bought it and you’ve noticed that the stock market is starting to fall, it might make sense to sell and take your profits to invest elsewhere. Equally, if the stock has fallen since you bought it and looks set to fall further, it might be a good idea to cut your losses by selling your shares.

Trading Sundial Growers

Trading is the same process, it’s just done over shorter periods of time with the aim to make small profits on a regular basis. This means that you can make money faster and spend your profits in your day-to-day life – however, on the other side it means you can lose money faster as well. For inexperienced investors, we generally recommend making investments for at least 6 months to a year instead of making trades in quick succession.

You can trade Sundial Growers shares through buying and selling shares, or by trading with CFDs. These allow investors to speculate on stock prices and trade with leverage in pursuit of bigger gains. CFDs trading is explained further in the next section, but it is worth noting that beginners should avoid trading with leverage. It comes with large risks and is best left to experienced investors.

Share dealing vs CFD trading

When it comes to investing in any stock, the two options you have are share dealing and trading. Which one of these methods to opt for largely depends on your investment timeline, with investors thinking long term tending to go for share dealing, and those looking for short term gains pursuing a more aggressive trading strategy.

Here’s a quick summary of the two approaches, and the pros and cons of each.

Share dealing 

Share dealing refers to the practice of buying and holding shares in a particular company over the long term. When investing like this, you’re seeking to profit either from dividend payments or an increase in the stock’s price over time.

When investing your money this way, it is important to do thorough fundamental analysis of the company in which you are investing. You want to put your money in a stock you believe will trend upwards over time, even if there is some market volatility along the way, rather than get distracted by shorter term peaks and troughs.

Pros

  • Can build wealth over time to achieve financial goals
  • Don’t need to be very reactive to short-term market movements
  • Some stocks will give you an income through regular dividend payments

Cons

  • Takes a long time to realise any profits
  • Your capital is tied up in stocks and cannot be used for other investments

CFD Trading 

If your aim is to generate profits in the short term, then you might be better off trading shares than holding them in your portfolio. Stock trades like this are executed using CFDs (contracts for difference), which allow investors to trade against the value of a stock without having to take ownership of it. When CFD trading, investors are looking to flip stocks fast to profit from short-term fluctuations in value.

One aspect of CFD trading that many investors find attractive is that they allow you to trade with leverage. This means you can place large trades while only putting up a fraction of the value yourself – for instance, if a platform offered leverage of 1:10, you could put £10 into SNDL shares and be able to trade £100 worth. This can maximise profits if the market moves in your favour, but be careful as it can also lead to heavy losses.

When trading using CFDs, it is key to be skilled at technical analysis and reading stock price charts. As you’re trading stocks quickly and frequently, the fundamental strength of the company in which you’re investing isn’t as important as being able to predict how its stock price will rise and fall minute-by-minute.

Pros

  • Can generate fast profits if you read the market right 
  • Some platforms allow you to trade with leverage
  • Prevents your capital being tied up so you can take advantage of investment opportunities

Cons

  • Trading with leverage is risky and can lead to big losses
  • Doesn’t necessarily generate growth over the long term

Consider which approach suits you best and craft an investment strategy that works for you. If you need more information, then simply take our course on how to trade stocks.

How to choose a broker

With the wide variety of online brokers available these days, it can be hard to figure out which is the best service to go with. Our comparison table and in-depth reviews can help you cut through the noise, but by and large these are the aspects you should be considering when selecting a broker:

  • Range of stocks available. The most important thing is making sure the broker offers the shares you’re looking for. Some brokers offer more stocks than others, and many will allow you to trade other assets, such as forex and commodities.
  • Fees and commissions. You want to keep as large a chunk of your profits as you can, so it’s important to make sure your broker doesn’t charge high fees that can eat into your profits.
  • Regulation. You should only use regulated brokers. Unregulated brokers can be risky and offer little to no protection if the business were to fail while you had funds in your account.
  • Payment methods available. You might want to use a specific payment method, such as PayPal, to fund your account. Not all brokers accept every payment method, but using our comparisons you can search only the brokers that support the option you’re looking for.
  • Reputation. One of the strongest indicators of a broker’s reliability is the reputation it has with the customers who have used it. Brokers are online businesses, and as such many user experiences can be found online. You can check these out in addition to our reviews to make sure you choose the right platform.
  • Customer service. As you’re going to be investing your money using the platform, you want to check that the broker offers good customer service in case you have a query or something goes wrong.

Latest Sundial news

On Friday, Sundial Growers Inc. (NASDAQ:SNDL) shares surged more than 20% after reporting its most recent quarterly results. The company reported its fiscal third-quarter results before markets opened, missing analyst expectations on revenue. However, Sundial’s announcement of a C$100 million share repurchase program helped to drive…
Sundial Growers Inc (NASDAQ: SNDL) increased by 20% and recently reported its third-quarter operational and financial results for 2021. The company also announced that a new and innovative share repurchase program had been approved by its BoD (Board of Directors). This program allows Sundial to repurchase a limit…
Cronos Group Inc (NASDAQ: CRON) remains in the focus of investors after New Cannabis Ventures reported that the Altria Group Inc (NYSE: MO) could buy the remaining outstanding shares of the cannabis company. Cronos Group shares advanced above $6.7 after this news but, shares have weakened from their recent…

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Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >

James Knight
Lead content editor
James is the lead content editor for Invezz, covering the stock market, cryptocurrency, and macroeconomic markets. Outside of work, James is an avid trader and golfer… read more.