Sundial Growers Shares Plunge After Massive Rally and Zillow Shares Jump After Earnings Beat
On Thursday, shares of cannabis company Sundial Growers fell, closing down 19.32%.
This Wednesday shares of Sundial Growers closed up nearly 80% as retail investors bet on the cannabis market. Retail investors on the popular subreddit WallStreetBets have expressed their optimism about the possibility of President Joe Biden decriminalizing cannabis in the United States.
In the U.S., Cannabis is fully legal in 15 states and decriminalized in 32 states.
Shares of Sundial Growers have skyrocketed more than 750% in the past three months.
On Thursday, shares of American online real estate company, Zillow closed up 16.82%.
Shares of the real estate company closed higher after Zillow beat earnings and announced the acquisition of home touring tech company, ShowingTime for $500 million.
Zillow reported revenue of $789 million while analysts expected revenue of $740.5 million. The company also had adjusted earnings of $0.41 per share, while analysts polled by expected adjusted earnings of $0.28 per share.
Shares of Zillow are up over 80% in the past three months.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.