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

Akanda Corp. (NASDAQ:AKAN) shares are going to reverse split before the market opens 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

Shares of AKAN traded down $0.08 on Thursday, reaching $0.47. The stock had a trading volume of 2,211,815 shares, compared to its average volume of 1,658,908. Akanda has a twelve month low of $0.42 and a twelve month high of $9.29. The firm has a 50-day moving average of $0.90 and a 200 day moving average of $2.63.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Wall Street Zen upgraded Akanda to a “sell” rating in a research report on Saturday, October 18th. Weiss Ratings initiated coverage on shares of Akanda in a report on Wednesday, October 15th. They set a “sell (e+)” rating for the company. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock 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.