UPDATE: Sundial Watch Deposes to Issue Securities Up to $ 1 Billion in Time, Regains Nasdaq Compliance

Canadian cannabis company Sundial Growers Inc. SNDL,
+ 5.29%
filed for registration with the Securities and Exchange Commission to issue up to $ 1 billion in securities over time. Calgary-based Sundial, now a penny in shares of a $ 1 billion company, once said in early February that it had made full use of the previous shelf after making a series of capital increases. in the last months. The new shelf allows it to offer joint actions, preferred shares, mandates, rights and units. The shares fell 11% before trading, but gained 363% in the last year, after the shares became popular among the Reddit investor group that sent shares of video game retailer GameStop Inc. GME,
-5.52%
and others at dizzying heights in an effort to create a short squeeze in recent weeks. Separately, Sundial said it regained compliance with Nasdaq’s listing rules after its shares were closed at $ 1 or more for at least 10 consecutive business days. Cannabis THCX ETF,
+ 5.70%
has gained 96% so far, while the S&P 500 SPX,
-0.06%
gained 16%.

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