SNDL Inc. (SNDL) saw its stock price plummet by 13.57% during intraday trading on Monday, reflecting significant investor reaction to recent developments.
The decline followed the company's announcement of an amended arrangement agreement with 1CM Inc. for the acquisition of 32 cannabis retail stores. The revised terms include a delayed closing timeline due to pending regulatory approvals in Ontario, extending the completion date to May 2026. Investors may have reacted negatively to the uncertainty and prolonged timeline, which could impact SNDL's near-term growth prospects.