Sundial Growers Inc (NASDAQ:SNDL) shares are trading higher by 10.2% at $0.55 after the company announced that it has received an extension of 180 calendar days to regain compliance with Nasdaq's minimum bid price requirement.
Sundial stated in a press release, and as was previously reported, the company was notified by Nasdaq on August 9, 2021 that the bid price for its common shares was not in compliance with the Nasdaq minimum bid price requirement.
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According to Sundial, at that time last August, the company was required to regain compliance by February 7, 2022. Sundial says the extension will allow the company to regain compliance if the bid price for the company's common shares closes at or above $1.00 per share for a minimum of 10 consecutive trading days before August 8, 2022.
Sundial Growers is engaged in producing and marketing cannabis for the adult-use market.
Sundial Growers has a 52-week high of $3.96 and a 52-week low of $0.40.
