Wall Street Is Betting That SNDL Stock Can More Than Double in the Next Year. Should You Buy Shares Here?

Core Viewpoint - SNDL shares experienced a nearly 12% increase following reports of a potential reclassification of cannabis as a "Schedule III" drug by the Trump administration, which may also allow seniors access to cannabis products under Medicare coverage [1][2]. Company Developments - SNDL stock has shown volatility, currently down over 25% from its year-to-date high in early October despite recent gains [2]. - The company has agreed to acquire 32 cannabis retail stores from 1CM in Canada, which could enhance its market share as it expands its retail footprint in key provinces like Ontario, Alberta, and Saskatchewan [3][4]. - SNDL reported a record $16.7 million in free cash flow for Q3, positioning the company well for growth initiatives in the upcoming year [4]. Market Position and Valuation - SNDL shares are currently trading at a price-sales multiple of less than 1x, indicating an inexpensive valuation relative to the long-term potential of the cannabis industry [5]. - The recent rally has pushed SNDL shares above $2, reducing the delisting risk that had previously affected the stock [5]. - Options traders anticipate a more than 20% increase in SNDL shares by January 16, suggesting a potential trading price of $2.53 in early 2026 [6]. Analyst Outlook - Wall Street analysts project that SNDL stock could more than double in value over the next year, driven by favorable policy changes [7].