SNDL

boravuth

SNDL could be a meme stock! You just never know. It has the right vibes. 😎

Equivalent_Smell_325

SNDL finally back above $1.4

Washpin

A quick google search will give you 10 companies that have surpassed the 500M mark, and that's not even including small caps and Penny stocks. AMC, SNDL, NAKD, HCTI, OPEN, GDC, LBGJ, FAMI, RENX. You are confidently incorrect. You can keep doubling down while you watch all your money slip away.

AnthonyQ50

SNDL is next meme and they are a cash cow

Cautious_Panic_4167

Loaded to the tits on Dell and SNDL calls

Ausdummer

I sold half my portfolio (\~$3.5K) which covered MSOS, SNDL, GTIBF, TLRY for a little over initial total investment (some at a loss) during earnings spikes or random jumps to push into the Psychadelics, Drone Tech, and Quantum Computing sectors. Man has that paid off in the last 4 months... I still hold a small $2.5k portfolio of Cannabis stocks, but I got tired of waiting on the sideline of other industries making headwinds with US policy and macro economic changes that I had to pull the cord on some 4+ year holds in the Weedstock space.

GeoLogic23

Here's what I have off the top of my head. Maybe missing some. Tier 1 (heavy focus/interest) - RYM, Tilray, Canopy, Jones Soda, Boston Beer Tier 2 (smaller part of business) - Organigram, SNDL, Trulieve, Curaleaf Tier 3 (micro caps) - cbdMD, LFTD Partners Then there are also other alcohol companies with a history in cannabis beverages. Constellation, Molson, etc.. Some have suggested that if the hemp ban does happen, it's basically just a short term ban so big alcohol can swoop in and buy up the good brands. Then there are companies like Alimentation Couche-Tard (Circle K) and Target that are retailers moving into THC beverages. Circle K would be much more affected by THC beverages gaining popularity though. Also SNDL would benefit if Canadian liquor stores were allowed to sell THC beverages.

Clackamas1

Does anything besides SNDL and WDC matter this week?

ThingBasic7218

Buy SNDL and everyday is ATH

beachsandwichen

Sure but there’s no rule in the stock market that says it has to be a good business to achieve a certain price and if ppl r willing to buy SNDL at 5$ then it should go there but because Kenny and the gang determine where stocks land price wise we get the market that we have

Amnesia-AI

I kinda disagree. While Covid was pivotal, plenty of other businesses also went through it and survived. It doesn’t change the root cause being poor planning and adjusting for size of risk and potential outcomes. When you’re a $300M company that managed to raise a few billion, you should have at least had the foresight to save your market cap or two times over before you went out spending it. But greed begets us all. And everyone was outcompeting each other on buying inflated assets when they should have been good stewards of money. And then it’s a double whammy because these guys really had no plans for operating the assets they took over. You know? The actual dirty work involved in producing? No - instead you got a bunch of suits who thought they could run this from a computer. It’s the same mistake you now see in CGC, TLRY and SNDL. A lack of operational excellence coupled with arrogance and really having no skin in the game because they’ve all been paid a lifetime over worth of compensation already. The shares are meaningless because the salaries and the RSUs are true cash in hand.

beachsandwichen

SNDL at 2k

beachsandwichen

I’ll never understand small float stocks, Warren Buffett could buy up every share of SNDL and it even notice that the money was missing

SwordfishOk504

I[m not a SNDL shareholder. I'm just someone who can actually read. You do yourself and your investment a disservice when you fight against your own baseless assumptions instead of accepting actual due diligence. In your mind this is some kind of "SNDL vs HITI" conversation but that's all in your mind. I'm looking at this objectively, you're just as biased as the SNDL folks.

SuzyCreamcheezies

I'd be surprised if today's MSO performance had anything to do with SNDL's earnings report.

KAI5ER

If this was cased by SNDL I'm terrified what TLRY is gonna do to us.

Equivalent_Smell_325

I see why SNDL announced the parallel news yesterday

GeoLogic23

Dude why are you trying to make every SNDL post about Tilray? This criticism of buybacks has nothing to do with Tilray. If you wanted to have a conversation about the topic i am discussing, instead of just trying to start a random Tilray argument, you would bring up a company like Vireo and discuss what they are doing right now. Why is Vireo going on a massive acquisition spree while other MSOs and similar companies twiddle their thumbs doing buybacks?

the_mammynun

Originally SNDL had agreed to use funds to acquire 30 "Cost Cannabis" retail stores in Ontario, however AGCO did not approve the deal as SNDLs operating structure violates Ontario regulations. When the deal fell apart, SNDL promised to deploy that capital in the form of buybacks.

the_mammynun

I'm fully aware of the numbers. It's not a race and that's not Raj's style. HITI takes a disciplined approach to store site selection and funds organic store growth with free cash flow. No need for dilution.  When Trulieve deconsolidated their Arizona, PN rec assets, HITI did not announce that they were now the world leader in retail, even though it was technically true. I think ZG is jumping the gun especially because of the AGCO investigation would risk that title, giving it back to HITI. At any moment, Nasdaq could allow trulieve to reconsolidate, giving the title back to them. A major merger could also happen, sending any of these companies far from the #1 spot. Raj mentioned during the AMA that any new M&A in Canadian retail will likely resemble the recent deal, small 4-store acquisition in differentiated markets at around 4.5x EBITDA valuations. These deals are now typically funded via a 33/33/33 split of dilution, FCF, and debt. I'll be tuning into the SNDL earnings call today. Very curious to hear ZG comment on the AGCO investigation for the first time vocally.

Love2Garden860

Most recent article from Stratcann says, “The move makes SNDL the world’s largest cannabis retailer, with 249 stores globally, surpassing Canadian retail giant High Tide, which currently operates 229 retail cannabis locations across Canada under its Canna Cabana brand.” I wonder if Raj will dilute shareholders to raise money, to keep up with store count. https://stratcann.com/news/sndl-expands-u-s-footprint-claims-top-global-spot-in-cannabis-retail/

Adorable_Honey_8648

Full divestiture of Franchise stores?! How? The article and you have no clue how SNDL stores ownership in ON is structured. Most are franchise stores, for a reason - SNDL lawers know that they going. The fix will be edited management and supply agreements - Easy.

the_mammynun

SNDL shareholders are acting like the stratcann article + CEO comments make this whole situation go away. They are acting like the Globe and Mail was simply incorrect and business continues as usual.  What is damning is the quotes I just shared with you, where the AGCO administrater seems fully intent on revoking SNDLs 46 licenses if they do not cooperate on a full diversiture. It's not the fault of stratcann, but the globe article is paywalled. A lot of important context is missing from the SC article.

SwordfishOk504

> My main focus in this thread is their claim of having the largest retail network worldwide, since anyone who is following should be aware that their Ontario network of 46 stores is about to dissapear. SNDL shareholders seem to be playing dumb or else just wishing thinking. And you're ignoring that they have addresses this and said the letter is fake. Are you "playing dumb or else just wishing thinking"? Now, you can disagree with their claim, I wouldn't at all be surprised they are lying, but nonetheless, you are ignoring this entirely. There is a difference between due diligence and a cult's confirmation bias. You're comments are heavily in the latter.

the_mammynun

To your other point, I think SNDL has potential as a good short term trade. They are acquirers/lenders at their core, so I would not invest in them long term as I don't trust their management to be able to grow what is an increasingly complex business organically. However I think they are undervalued given their cash position and now US assets being consolidated on the books.  My main focus in this thread is their claim of having the largest retail network worldwide, since anyone who is following should be aware that their Ontario network of 46 stores is about to dissapear. SNDL shareholders seem to be playing dumb or else just wishing thinking.

the_mammynun

Did you read the article? It's all there. >  A proposal for a genuine, verified and complete divestiture of SNDL’s de facto control of SLOI’s and SOI’s Ontario retail operations – to the satisfaction of the registrar – may provide a basis for an alternative resolution that addresses the substantive regulatory concern without the necessity of contested public proceedings,” Jeff Longhurst, AGCO director of licensing and registration, said in the letter. > The investigation has established that actual control is exercised by SNDL and its wholly controlled subsidiary Nova,” Mr. Longhurst said > Mr. Longhurst said any proposal SNDL submits for an alternative resolution should demonstrate plans to execute “a timely and complete transfer of ownership and operational control of all of the affected Ontario retail stores.” SNDL must also terminate all existing management, operational, supply chain and brand licensing agreements between itself, Nova and the new owners and cancel any other deals that might allow the company to reacquire ownership or control. Finally, the regulator said SNDL must also provide “independent verification of the divestiture by a qualified professional appointed or approved” by the AGCO.

Kbarbs4421

Sector seems pretty beat down right now. I'm anticipating a bounce and maybe even a run on rescheduling certainty. Have a mix of equity and options plays on RYM, TRLV, CRON, SNDL and MSOS, the majority of which are intended to be near/mid term volatility trades. And then i continue to hold some core positions in GTBIF and CRON. Big picture, I will continue to trade the sector's volatility cycles until that trade no longer works. I'd probably walk away altogether if I didn't understand the market participants and emotional cycles so damn well.

Competitive-Ant2876

This is mis leading because it’s really just bridge financing buying distressed assets that would already fail if SNDL didn’t step in anyway which is why the companies agree to the terms. I wouldn’t say they failed to integrate shitcos, I believe one actually did fail like just flat out fail but the other was due to regulatory scrutiny so I believe they walked away or are actively trying to make it work I can’t remember. I bought SNDL in 2018, sold, then in 2019 sold, 2020 sold and then I bought 2025 sold. All for profit. SNDL has had decent run ups but they are the only LP I’ve invested, they are one of the only LPs that will have a real road in the US.

Kbarbs4421

Thread links to the general News section of Sundial's website. Here is the actual press release: https://sndl.com/news/news-details/2026/SNDL-Announces-Completion-of-Parallel-Asset-Acquisition-and-Positions-for-Nasdaq-Consolidated-U-S--Medical-Cannabis-Operations/default.aspx

Kbarbs4421

Tread lightly. I've been chasing SNDL for awhile now, trying to catch some volatility to the upside. Been an ugly chart to deploy such a strategy. Puts keep getting assigned, calls expire worthless. Sure feels like a turnaround is overdue, but I dunno.

GeoLogic23

Just saying "respectfully" doesn't allow you to call someone delusional behind their back without that being pretty disrespectful. You can say it directly to me if you would like to not be a coward, and I'll back up every opinion I've ever expressed. I'm willing to bet you have no idea what my actual opinions are about Tilray and Irwin Simon though. You probably just saw me pointing out FoodCooker's false comment this morning, which were absolutely false. Regardless of your opinion on Tilray, we should point out when people are just spreading complete lies. It's pretty funny you are calling me delusional about Tilray on a random SNDL thread though lol thanks for thinking of me so much.

Competitive-Ant2876

This is from their bridge financing, this one of 4 other US operators SNDL will acquire. This is huge. They are the only LP worth investing in. Tilray , & canopy all are memes and people are holding to heavy of bags in them to admit it’s not what they thought it was. Respectfully, geo is delusional about Tilray the most.

Love2Garden860

Guilty as charged, though let's be fair, when one of your key equity bets is showing record numbers while the rest of the sector is bleeding out, you take your wins where you can get it. HITI's success *was* good for SNDL's balance sheet at the time. No shame in highlighting a win. Let’s not forget that SNDL is structured as an investment company, not just the largest cannabis & liquor retailer in Canada. 🤷🏼

the_mammynun

You're also the guy that shared HITIs record financials on r/weedstocks  framed as a SNDL win because they own 5% of HITI. 

Spasticated

SNDL is officially the most undervalued stock in the sector imo. Its a joke that this trades at 300 mil market cap with the assets and business they have

Love2Garden860

Oh I’m aware that he is. There’s a couple of them that just have a genuine hatred for SNDL & take any opportunity to do this. It’s bizarre lol

Lebempe

I have read it. The globe and Mail article contradicts itself several times. A later article reports that the globe and Mail article was inaccurate and no such letter was sent. SNDL management also said that they received no such letter. I think there is nothing to worry about. If you have no other proof in going to move on with my day.

the_mammynun

You should try to access the original globe and mail article which contained many damning quotes from the regulator. It may be true that they never recieved an order, but the investigation is absolutely true and AGCO regulators were extremely clear on their position during their quotes in the Globe article. SNDL will have to relinquish control, and an order is coming if it hasn't already been issued.

Lebempe

Someone else posted a quote from SNDL management saying that the news station reporting they never received an AGCO letter anyways so I really don't see it being an issue.

Love2Garden860

“We can confirm that the Globe and Mail article contains inaccuracies, and that SNDL has not received any order from the regulator to date,” said the representative. “We will continue to communicate transparently with shareholders and stakeholders, consistent with our regulatory obligations, as the process progresses.” https://stratcann.com/news/ontario-regulator-probes-sndls-retail-holdings-amid-expansion-concerns/

the_mammynun

Have you forgotten that the AGCO demanded SNDL relinquish control of 46 Value Buds stores? Interesting statement despite that SNDL has still not commented publicly about the order.

Lebempe

$150m US in annualized revenue. Operations in Florida, Texas and Massachusetts. Personally I think a lot of people have overlooked this company and the grasp they have on the US side of the border. SNDL now supports a 249-store cannabis retail network, the largest in the world by store count.

Love2Garden860

“SNDL now supports a 249-store cannabis retail network, the largest in the world by store count”

Active_Air_9956

SNDL 🌿💸🌿💸🌿💸🌿💸🌿💸🌿💸

VellumVeritas

... it's SNDL, isn't it. Like, the offensive part isn't "investing" into SNDL, it's the fact that you failed to even go balls deep and your financial syphilis only affects your tip. The fuck outta here with those rookie numbers.

ging3r_gin3r

Love this. I’m with you man. Shit does not look great. And I’d tell you it’s gonna get better and to hang in there, but I’m currently in the process of immigrating to Canada to escape all this 😂. All I can say is I’m here watching this bleak shit with you, balls deep in SNDL, hoping to one day get my nut. Cheers to you sir.

CallShot7029

Is it capital discipline or pandering? Typically buybacks are for when the company has no other viable alternative for its cash - dividends, reinvesting in new capex projects, etc. I cant possibly imagine SNDL has NOTHING better it can be doing with its cash right now unless the sector is actually crispy fried

Equivalent_Smell_325

SNDL's buyback for the last two months: May: [5,725,933 shares](https://webfiles-primary.thecse.com/filings/neutral/5289/14775f59-29d2-4303-a925-574939665bd6?response-content-disposition=inline%3B%20filename%3D%22Form%2017B%20Report%20of%20Purchases%20Normal%20Course%20Issuer%20Bid%22%3B%20filename%2A%3DUTF-8%27%27Form%252017B%2520Report%2520of%2520Purchases%2520Normal%2520Course%2520Issuer%2520Bid&response-content-type=application%2Fpdf&X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=7db34d514465c8f06bca635661a25abb%2F20260625%2Fauto%2Fs3%2Faws4_request&X-Amz-Date=20260625T004110Z&X-Amz-Expires=300&X-Amz-SignedHeaders=host&X-Amz-Signature=6c574ff5b4b215d4ebad42a5d74a7b49571e9925aa47dc0fec5fdd13446d5d05) June: [6,021,462 shares](https://webfiles-primary.thecse.com/filings/neutral/5289/0a3deb1e-5665-4517-80ac-d78f6c7cbaed?response-content-disposition=inline%3B%20filename%3D%22Form%2017B%20Report%20of%20Purchases%20Normal%20Course%20Issuer%20Bid%22%3B%20filename%2A%3DUTF-8%27%27Form%252017B%2520Report%2520of%2520Purchases%2520Normal%2520Course%2520Issuer%2520Bid&response-content-type=application%2Fpdf&X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=7db34d514465c8f06bca635661a25abb%2F20260714%2Fauto%2Fs3%2Faws4_request&X-Amz-Date=20260714T152612Z&X-Amz-Expires=300&X-Amz-SignedHeaders=host&X-Amz-Signature=0263acbd7e0705bdc6ed2cfc551631bc5dcf9749854bf642d2e7e53513f3c834) total \~5% reduction in public float

Kickinitez

No SNDL?!

MarsManMartian

That was 2021 with SNDL

SwordfishOk504

imo this is about SNDL and HITI fighting.

akaChadThundercock

No other operators that I'm aware of. This rule is also only for Ontario and BC afaik, but someone correct me if I'm wrong on that. That's why sndl has direct control in Alberta.  Is there merit? Probably. SNDL is the only LP with retail operations in Ontario. Have they organized it in a way to be able to legally navigate this without taking a hit? Maybe 🤷‍♂️ If their franchises aren't actually independent, which is very possible, then they're looking at divesting all stores in the biggest province. Worst case scenario, they lose the ability to operate in Ontario at all and get hit with hefty fines(unlikely imo but possible). It really just comes down to what the province determines. This could be anywhere from nothing to a devastating blow to the business.

SwordfishOk504

> There are other operates that exceed the 25% threshold, right? I'm not aware of any. Canopy divested from Tokyo Smoke several years ago and High Tide isn't connected by a producer (although SNDL seems to want to buy them). All I know for certain is this is corporate fuckery with one company using the regulator against another. Who is or isn't or will or wont be found guilty is another issue.

akaChadThundercock

True, SNDL denies that they've been told to divest and that they've done anything wrong. They don't deny the review, which is ongoing and could result in either of what I commented above. Until something solid comes out though, all we can do is talk hypotheticals 🤷‍♂️

SwordfishOk504

Interestingly, though, that article above says SNDL basically denies all of this and says the initial Globe and Mail article was wrong.

akaChadThundercock

The question is "does SNDL have more control than the 25% legally allowed by law?" If yes, they will have to fully divest their retail stores in Ontario or become unable to do any business in the largest province. If no, then they can continue on with collecting their "franchise fees" from what they will claim are independently owned franchisees. If they're proven to have their "franchisees" report to SNDL leadership, under the Spiritleaf banner, then its hard to see how those stores aren't in direct violation of the law.

Unlucky-Reporter-709

Why is this subreddit obsessed with trashing Tilray for dilution? 1: ACB total diluted shares- 7.43 billion (!!!) 2: CGC total diluted shares- 4.14 billion 3: SNDL total diluted shares-2.5 billion 4: HITI total diluted shares-1.32 billion **5: TLRY total diluted shares- 1.05 billion** 6: OGI total diluted shares- 563 million 7: CRON total diluted shares-375 million I am the first one to criticize Tilray, but my god the obsession with that company on this subreddit when the vast majority of cannabis companies are disasters and many are more or just as dilutive is just so obnoxious and stupid. And don't kid yourself, if MSOs had the same access to the larger market they would be digging into equity as well. It's free money as far as these companies are concerned, and when things open up more in the USA like in Canada, the competition will become extremely aggressive and the need for funds to grow and keep up will be vast. There isn't some inherent dilutive gene trait in all of the Canadian companies that US companies don't have.

Party-Count-4287

SNDL

Secret_Tapeworm

SNDL. It was my intro to retail trading, entered after the pump to experience the dump lol

mazsive

Soon they will go back to SNDL and pump it again too lmfao

CastMyGame

SNDL, keeping that -99% in my account to never forget. Don’t follow the regards

LearningSPXonly

Thought buying SNDK bought SNDL instead

CraftyAd5340

You sound like a SNDL bag holder…ask me how I know

Longjumping_Dirt_266

SNDL

LasVegasFruitTrees

SNDL is debt free with 250 million in cash reserves

No_Cell6708

Auxly's FCF margin is better than SNDL's gross margin bruh

LasVegasFruitTrees

SNDL king here

Orennji

Reminds of those AI-generated SNDL posts from a few months ago. Paragraphs full of buzzwords (analytics advantage, decentralization, house of local brands) that don't really say anything about the actual business.  

the_mammynun

It probably comes down to their large cash position and history of not playing by the rules. Last year there was speculation that SNDL was manipulating HITIs stock price. Some months later they disclosed a 5% position. Then 10% .. then 5% again. I'm not saying it's illegal but it validated earlier suspicions to a certain extent.  I also think SNDL has some of the best stores in the country -- between Value buds and SpritLeaf, so naturally it could be concerning to see a well capitalized competitor copying your model and doing it well, albeit illegally.

ging3r_gin3r

Don’t worry. Swordfish is now torturing us in the SNDL subreddit

Practical-Agency6754

$SNDL is due for another good ol wsb pump LOL

Calm-Welder2776

Crazy how no one is thinking about $SNDL after this Trulieve uplisting news. As soon as SNDL (via SunStream US) closes the acquisition of Surterra, the FL and TX medical businesses will be able to roll into the NASDAQ listed entity. Instant top 5 player in FL medical market, core TX medical license to grow with market, major retail and manufacturing player in Canada, access to European markets, currently almost a $1b/yr business, no debt, $200+M cash….. things can change fast with this one, majorly undervalued already

-flat-Earth-360

According to the portfolio 1. SNDL 2 EXK 3 FSM. Would you like me to continue?

Blowoutgamesnj

It might not be clear, but was curious if anyone knew: If MSOs gain the ability to uplift to the bug exchanges, could LPs like Canopy and SNDL be able to recognize their US plant touching assets? Or is that a separate issue?

Competitive-Ant2876

You’ll get a footprint and brand power from Cresco, without the regulatory headaches like licensing caps, zoning issues, “grow turning on”, it’d be a plug and play move if they merged. I don’t believe in LPs at all. The only one I believe in that will have US footprint will be SNDL. Everyone else is over hyped and misunderstood.

akaChadThundercock

I'm actually more surprised that Ontario entertained the idea of them buying more stores. Unless I'm missing something or misunderstanding(which is entirely possible), Ontario doesn't allow LPs to directly own stores and only allows 25% ownership at most. SNDL skirts around this by franchising some stores in Ontario and directly owning in Alberta. Buying a bunch of stores in Ontario seems like a pretty cut and dry violation of the rules, but then again they were able to buyout Value Buds 🤷‍♂️

GeoLogic23

SNDL acquisition of 1CM is [not going to go be completed](https://www.globenewswire.com/news-release/2026/05/27/3302447/0/en/sndl-announces-update-on-arrangement-agreement-with-1cm-for-acquisition-of-ontario-cannabis-stores.html) all the way. >....due to a prolonged regulatory review proces....it will be unable to obtain the required regulatory approvals necessary....prior to the outside date of May 31, 2026 as set out in the amended and restated arrangement agreement.....the acquisition of the Ontario assets by SNDL is not expected to proceed and 1CM expects to be paid a termination fee from SNDL of $250,000. >...SNDL completed the first closing under the A&R Arrangement Agreement, pursuant to which SNDL acquired five cannabis retail stores....from 1CM. That transaction was completed and remains unaffected by this update. >SNDL intends to reallocate the capital previously reserved for the Ontario acquisition toward share repurchases under its existing Share Repurchase Program.

DooficusIdjit

SNDL

benderok37

Yet, all Canadian companies near at all time lows.  HITI, OG, SNDL, ACB, TLRY, CGC. 

Gambelero

One of the tendencies of capitalism, itself, is to over do things. I’ll use “cycling” here to refer to alternating periods irrational exuberance followed hard on by unjustified despair. In the period from WWII to Volcker, we had boom->recession cycle times of between three and four years, two post war in the forties, three in the fifties, two in the sixties and three from 1970 to 1981. The cycling between euphoria and panic was easiest to see in real estate. Canopy has been a poster child for cycling in our sector. It went up way beyond what future cash flows warranted several times during euphoric periods. Other companies (pre-Aphria Tilray up to $3000, VFF during the Texas hemp excitement, Charlotte’s Web during the CBD craze, and many others—note the numbers are split-adjusted) experienced similar run-ups. We’re sitting now where many of the LPs are way up from their capitulating despair level, but still down a huge amount from their highs in 21. What you have to ask yourself for Canopy and other LPs is whether you believe in their management. Someone in this pointed out the $4B wealth destruction. One could argue that Cronos’ managers have been the smartest. Fairview would nominate DeGiglio; others have pointed out Organigram’s management (though today’s report doesn’t give me a lot of confidence in the new CEO); others like High Tide; and you have to give SNDL’s management credit for their adroit reaction to the meme run, but they don’t seem nearly as successful when it comes to actually running a business. For my part, I see MSOs’ management as doing a much better job. Just in the sense of not making incredibly stupid acquisitions, they’ve been way better.

pincandies

good friday? i've been a cannabis long since the aphira days, made a tonne than lost most of it back. I only get a bunch of SNDL left, but after seeing the sector weak reaction to S3 confirmation I don't think there is any catalyst that will pump this sector like the old days. Meanwhile being stuck in this sector watching tech stocks rally on fumes was a bonus 2 for 1.

UsedState7381

MSOS had inflows today, the managers didn't added any new positions though, instead they used the inflow to clear 99% of the ETFs negative cash balance  https://x.com/i/status/2052578055013417139 This and them selling SNDL this week to also lower their debts, is very sudden and quite odd. I wonder if this them getting ready for uplisting.

akaChadThundercock

A buyout is definitely possible!  I doubt SNDL will be able to, they don't have enough cash for a buyout with the poison pill that HITI approved within the last year. But someone definitely could.

akaChadThundercock

I think its the best explanation for why HITI has such little volume compared compared to its peers. HITI has more revenue in its retail operations than SNDL has in retail and grow ops combined, yet has a fraction of the volume. I try to avoid expecting anything. Expectations are just delayed disappointment lmao. But Q2 really depends on remexian and how much the bottleneck in Portugal has been resolved. If it's fully resolved? It'll be a crazy good Q. But I doubt its fully resolved so it'll probably be solid but not enough to drive the price up a significant amount 

akaChadThundercock

Super bullish on HITI and frankly pretty bearish on most other names in this space. Why HITI over others? They're actually growing.  3 consecutive years of positive free cash flow. Their only competition in retail are SNDL and FIKA. FIKA is privately owned and has around 100 stores. They don't play in the discount space so not huge competition to HITI's model. SNDL's latest earnings showed they are doing nothing to outcompete HITI. They bought out the largest German importer by market share and have a clear competitive advantage over other importers. HITI can source product from a ton of LPs due to their relationship as the largest buyer of cannabis in Canada and because there is no conflict of interest as they aren't a producer themselves. Other importers mostly just have a connection with a single LP. As Europe opens up, the sheer variety and biomass that HITI will be able to move will exceed any individual LP. Their biggest catalyst they need is profitability, but growing costs money and that cost cannibalizes their EPS. It's also very much a GARP, and not a tech company that can exponentially increase their revenue in a short time frame. They trade below .5 P/S while others in this space are trading anywhere up to 5x that. Starbucks didn't get huge by growing beans. Anheuser-Busch didn't get big by growing barley. The money isn't in commodities, the money is in asset-lite retailers and cpg.

Trayeboujee

I second this, SNDL is my only MJ stock I've invested in for this reason.

Equivalent_Smell_325

Honestly? SNDL Aside from the no debts, no dilution, and mid cad retail cannabis and liquor business their biggest open secret is the US exposure through Sunstream/Parallel. that includes roughly 50 disclosed retail locations, with the bulk of them in Florida through surterra, plus smaller exposure in massachusetts and texas florida is the real asset here. Surterra has around 45 stores in one of the biggest medical cannabis markets in the U.S. Texas is smaller today, but the license itself could have long term value if the state ever expands the case is that the market is valuing it like a boring canadian cannabis/liquor retailer, while a large chunk of its market cap is backed by structured US cannabis exposure that could become much more valuable if rescheduling unlocks it not finanical advice

Equivalent_Smell_325

you know what surprises me? Zacks Research has SNDL rated STRONG SELL, while CGC is sitting at STRONG BUY can someone smarter than me explain the rationale for me?

akaChadThundercock

They're certainly not in this subreddit at least 🤣. Tbf, as I'm writing this comment, SNDL has higher volume than TLRY and only about 100,000 fewer shares traded today than MSOS. Much less in total $, but still pretty active so its clearly on someone's radar.

Critical-Snow-7000

I forgot SNDL years ago.

GeoLogic23

One future catalyst for SNDL that nobody mentions is the potential for cannabis beverages to move from dispensaries into regular alcohol retail, similar to what is happening in the US. The alcohol companies were super involved in Canadian cannabis, so I assume when/if they make their move in the US, then we'll magically get cannabis beverages sold alongside their alcohol products in Canada.

King_Chron

The SunStream joint venture contributed a profit and higher other comprehensive income, lifting the investment segment * **SunStream restructuring progress**: As U.S. cannabis rescheduling gains momentum, the restructuring of the Parallel and Skymint investments continues to advance toward completion, with only a limited number of remaining requirements outstanding. * As of March 31, 2026, the Company has deployed capital to a portfolio of cannabis-related investments with a carrying value of $410.1 million, including $395.4 million to SunStream Bancorp Inc. (“**SunStream**”). This carrying value was increased by $12.5 million during the first quarter of 2026, primarily due to an increase in the USD to CAD exchange rate from 1.3706 on December 31, 2025 to 1.3939 on March 31, 2026. * The previously disclosed restructuring process relating to Skymint continues. On April 1, 2026, the Michigan Supreme Court has agreed to hear oral argument on applications for leave to appeal. The Court has not reached a decision on the merits. Timing and outcomes remain uncertain and are subject to court process and other factors. * The previously disclosed restructuring process relating to Parallel continues. On February 4, 2025, the Florida Department of Health approved the transfer of Parallel’s license, representing an important milestone in completing Parallel’s restructuring process. In December 2025, a settlement was reached resolving the final remaining litigation, and SNDL currently expects the strict foreclosure process to close in Q3 2026, subject to completion of remaining steps, satisfaction of applicable conditions, and any required approvals. * The investment portfolio generated a positive operating income of $2.0 million in the first quarter of 2026, primarily driven by interests earned from our cash accounts. * On April 23, 2026, the DOJ and DEA issued an order placing FDA-approved cannabis products and state-regulated medical cannabis in Schedule III, while launching an expedited process to reschedule all cannabis from Schedule I. This move is expected to eliminate 280E tax burdens, expand research, improve regulation, and enhance access to capital, strengthening the industry outlook, with direct relevance to SNDL given its exposure to core US medical markets through its SunStream credit exposure.

akaChadThundercock

I have a small SNDL position that I sold CCs against. I'm mostly interested to see how many shares of HITI they still own but I'm not really expecting anything especially good or bad from their earnings. The company is fine and honestly much healthier than most that get mentioned here, but they've also never shown an ability to grow organically.

Equivalent_Smell_325

SNDL earning tomorrow pre market, thoughts folks?

SuzyCreamcheezies

Thanks for the info. I don't follow SNDL too closely.

GeoLogic23

Yea that could definitely make sense. I really don't see them pursuing the exact same business model as MSOs. LPs have previously been connected to those sort of huge grow companies (Sunniva, Copperstate, etc.) that'd make sense for interstate. I think Copperstate still seems like a good acquisition target if interstate happens, and I think Glass House is prime target due to their low cost growing. If interstate happens, a company like Trulieve better partner with Glass House or someone similar immediately. Or if LPs do just go for the MSO model, there's lots of ways for LPs to do stuff in the US that isn't even in direct competition with the current MSOs. Plenty of states they aren't even in. I think the idea that anything besides a "tier 1" isn't valuable is ridiculous. Most of the companies with decent financials are probably smaller companies that didn't take on massive debt loads to expand into markets, only to pull out of half of them. Everyone here is so often focused on who has the most revenue. I'd have to look for them, but there were surveys not super long ago where there was a decent percentage of cannabis companies that claimed they turned a profit. I can't remember but like 25%+. We know practically zero of those were publicly listed MSOs. And not only that, but there are probably tons of distressed assets to pick up right now. Including some recent MSOs lol Obviously this is at least part of the strategy, considering that's exactly what SNDL and Cronos (via Gotham Green) are doing. A few smaller operators that are pieced together could have plenty of revenue, while not having massive debt to pay off. Or as you say, maybe they don't want to be in retail whatsoever. Why wouldn't a company like Tilray/CGC not leverage their beverage retail connections to focus on federally legal hemp products? Several LPs already sell low dose hemp edibles. Tilray is already partnered with CWEB. LPs could focus on getting their low dose hemp products in a store like Walmart, where they could sell recreational beverages, hemp supplements over the counter, and also pharmaceutical hemp products via in-store pharmacies. That fits their current business trajectories way better than acquiring themselves into what MSOs are currently doing. Or how about just doing a RYM/GTI type setup. What is Tilray doing with MedMen right now? How about licensing that brand to an MSO, while also launching MedMen hemp products through Tilray? Could be just waiting for the hemp situation to resolve, which of course people have questions about. I'm personally extremely confident low dose products are going to continue to be sold in regular retail. Or how about LPs just acquire brands? MSOs could have just done a great job helping expand plenty of outside cannabis brands over the years, which are then just going to get bought by other companies. Insiders like Jason Wild, the Aphria guys, Michael Auerbach, etc have all made investments in brands in recent years. I feel like we could be creative with these sort of discussions if people weren't so desperate to shoot down any idea that the current largest revenue MSOs might not be the only viable way to make money in the US cannabis market.

SuzyCreamcheezies

Canopy has Acreage and SNDL has Sunstream. I think Cronos has some level of MSO investment and Tilray *may* have some California licenses from the MedMen bankruptcy. I'm very curious how the "broader rescheduling" will shake out over the summer. LPs are generally not retail operators and I wonder if some (looking at VFF and Texas) are hoping for conditions that allow for interstate commerce so that they can function more closely to how they do in Canada and international. Be part of the supply chain and product creation, but without the retail component.

TheOriginalBushToad

So, you're telling me my TLRY and SNDL bags are still worthless?

Bansionboy

Do i keep my $2 calls expiring may 15th on SNDL ?

the_mammynun

Yeah there have been suspicious sell offs nearly every quarter for the past 2 years. I'm sure management suspected SNDL at one point as they bought and sold millions of shares. We will see if anything comes of it.