What's Going On With Medical Cannabis Company Akanda Stock Friday?
Portfolio Pulse from Nabaparna Bhattacharya
Akanda Corp. (NASDAQ:AKAN) shares are surging in premarket trading following the announcement of a 1-for-40 reverse stock split effective May 23, 2024. The company will file Articles of Amendment to reflect this change and will not issue fractional shares, rounding down instead. Akanda's portfolio includes CanMart in the U.K. and a Canadian farming property for THC and CBD development.
May 24, 2024 | 12:50 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Akanda Corp. shares are up 130.5% in premarket trading after announcing a 1-for-40 reverse stock split effective May 23, 2024. The company will not issue fractional shares, rounding down instead.
The significant premarket price increase of 130.5% indicates strong investor reaction to the reverse stock split announcement. The lack of fractional shares and rounding down may also be seen positively by investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100