Sundial CEO: How Wall Street Bets investors help the cannabis company

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The CEO of hot cannabis firm Sundial shares how he capitalized on a wave of interest from Wall Street Bets to raise hundreds of millions of dollars and turn the company around

forum has presented opportunities and challenges, CEO Zachary George said in an interview with Insider's Jeremy Berke at the Benzinga Cannabis Capital Conference this week.

When George took over as CEO in January 2020, the Canadian cannabis producer was staring down bankruptcy, having pursued costly acquisitions in international markets that didn't pan out. Sundial has a market value of about $2.4 billion and trades at about $1.20 a share. Retail traders pushed the stock to almost $4 earlier this year.

George said that while retail investors could put pressure on Sundial to announce entry into large markets like the US and Europe, the company's focus"remains on Canada."

 

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