Market cap of Akanda Corp. [AKAN] reaches 3.64M – now what?

Akanda Corp. [NASDAQ: AKAN] gained 38.82% on the last trading session, reaching $0.92 price per share at the time. The company report on July 6, 2023 at 4:18 PM that Akanda Corp. Receives Nasdaq Notification Regarding Minimum Bid Price Deficiency.

International medical cannabis platform company Akanda Corp. (“Akanda” or the “Company”) (NASDAQ: AKAN) today announced that the Company has received a written notification (the “Notification Letter”) on July 3, 2023 from the Listing Qualifications Department of the Nasdaq Stock Market LLC (“Nasdaq”), notifying the Company that it is not in compliance with the minimum bid price requirement set forth under Nasdaq Listing Rule 5550(a)(2). It resulted from the fact that the closing bid price of the Company’s common shares, no par value (“Common Shares”), was below $1.00 per share for a period of 30 consecutive business days.

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The Notification Letter does not impact the Company’s listing on the Nasdaq Capital Market at this time. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided 180 calendar days, or until January 1, 2024, to regain compliance with Nasdaq Listing Rule 5550(a)(2). To regain compliance, the Company’s common shares must have a closing bid price of at least $1.00 for a minimum of 10 consecutive business days. In the event the Company does not regain compliance by January 1, 2024 the Company may be eligible for additional time to regain compliance or may face delisting.

Akanda Corp. represents 3.88 million in outstanding shares, while the company has a total market value of $3.64 million with the latest information. AKAN stock price has been found in the range of $0.6401 to $1.05.

If compared to the average trading volume of 302.24K shares, AKAN reached a trading volume of 5368418 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Trading performance analysis for AKAN stock

Akanda Corp. [AKAN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 75.01. With this latest performance, AKAN shares gained by 60.74% in over the last four-week period, additionally sinking by -24.90% over the last 6 months – not to mention a drop of -87.06% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AKAN stock in for the last two-week period is set at 76.13, with the RSI for the last a single of trading hit 82.61, and the three-weeks RSI is set at 69.77 for Akanda Corp. [AKAN]. The present Moving Average for the last 50 days of trading for this stock 0.6016, while it was recorded at 0.6793 for the last single week of trading, and 1.2691 for the last 200 days.

Akanda Corp. [AKAN]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Akanda Corp. [AKAN] shares currently have an operating margin of -816.61 and a Gross Margin at -391.77. Akanda Corp.’s Net Margin is presently recorded at -314.37.

Return on Total Capital for AKAN is now -112.10, given the latest momentum, and Return on Invested Capital for the company is -55.97. Return on Equity for this stock declined to -66.69, with Return on Assets sitting at -35.01. When it comes to the capital structure of this company, Akanda Corp. [AKAN] has a Total Debt to Total Equity ratio set at 14.50. Additionally, AKAN Total Debt to Total Capital is recorded at 12.66, with Total Debt to Total Assets ending up at 10.00. Long-Term Debt to Equity for the company is recorded at 10.22, with the Long-Term Debt to Total Capital now at 8.92.

Reflecting on the efficiency of the workforce at the company, Akanda Corp. [AKAN] managed to generate an average of -$179,032 per employee. Receivables Turnover for the company is 3.54 with a Total Asset Turnover recorded at a value of 0.11.

An analysis of Institutional ownership at Akanda Corp. [AKAN]

The top three institutional holders of AKAN stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in AKAN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in AKAN stock with ownership which is approximately 5.7381%.

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