Akanda (NASDAQ:AKAN) Shares Scheduled to Reverse Split on Monday, January 12th

Shares of Akanda Corp. (NASDAQ:AKAN) are scheduled to reverse split on Monday, January 12th. The 1-5 reverse split was announced on Thursday, January 8th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, January 9th.

Akanda Stock Performance

AKAN stock traded down $0.08 during midday trading on Thursday, reaching $0.47. The company’s stock had a trading volume of 2,211,815 shares, compared to its average volume of 1,658,908. Akanda has a 1 year low of $0.42 and a 1 year high of $9.29. The stock has a fifty day simple moving average of $0.90 and a two-hundred day simple moving average of $2.63.

Analyst Upgrades and Downgrades

AKAN has been the subject of several research reports. Weiss Ratings assumed coverage on shares of Akanda in a research report on Wednesday, October 15th. They issued a “sell (e+)” rating for the company. Wall Street Zen upgraded Akanda to a “sell” rating in a report on Saturday, October 18th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

About Akanda

Akanda Corp., through its subsidiaries, engages in the cultivation, manufacture, and distribution of cannabis products to patients worldwide. It offers medicinal-grade cannabis and cannabis based medical and wellness products. The company was incorporated in 2021 and is headquartered in New Romney, the United Kingdom.