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Globe Newswire (Wed, 27-Mar 4:45 PM ET)
Akanda Corp is a cannabis cultivation, manufacturing and distribution company. The Company has three reportable segments: Cultivation, Distribution and Corporate. Cultivating activities comprise the cultivation segment is made up of the medical cannabis cultivation operations at RPK/Holigen in Portugal, and medical cannabis cultivation activities. Distributing activities relate to the distribution of medical cannabis by Canmart Ltd in the United Kingdom. Corporate activities entail head office costs and other general corporate expenses related to the administration of the broader group.
Akanda Corp. - Common Shares trades on the NASDAQ stock market under the symbol AKAN.
As of April 24, 2024, AKAN stock price was flat at $0.09 with 1,578,291 million shares trading.
AKAN has a beta of 2.75, meaning it tends to be more sensitive to market movements. AKAN has a correlation of 0.07 to the broad based SPY ETF.
AKAN has a market cap of $793,204.00. This is considered a Sub-Micro Cap stock.
AKAN has underperformed the market in the last year with a price return of -91.9% while the SPY ETF gained +24.2%. AKAN has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -76.1% and -25.7%, respectively, while the SPY returned +4.6% and -2.7%, respectively.
AKAN support price is $.08 and resistance is $.11 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that AKAN stock will trade within this expected range on the day.