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

Akanda Corp. (NASDAQ:AKAN) shares are going 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 market closes on Friday, January 9th.

Akanda Stock Down 14.8%

Shares of Akanda stock traded down $0.08 during midday trading on Thursday, reaching $0.47. 2,211,815 shares of the company’s stock traded hands, compared to its average volume of 1,658,908. The company’s 50 day simple moving average is $0.90 and its 200 day simple moving average is $2.63. Akanda has a 52 week low of $0.42 and a 52 week high of $9.29.

Analyst Upgrades and Downgrades

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

Akanda Company Profile

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.