Akanda Corp [NASDAQ: AKAN] gained 26.25% on the last trading session, reaching $0.15 price per share at the time. The company report on April 11, 2024 at 11:00 AM that Akanda Corp. Announces Plan to Integrate Technology Solutions to Capture UK Market.
London, United Kingdom–(Newsfile Corp. – April 11, 2024) – On April 4, 2024, Akanda Corp. (NASDAQ: AKAN) (“Akanda” or the “Company”), an international medical cannabis company, announced its wholly-owned United Kingdom (UK) subsidiary, Canmart, plans to develop its social shopping capability by integrating with META, to create a user friendly buying experience for Facebook and Instagram users to purchase Canmart products. In short, this integration allows Facebook and Instagram users to browse products featured in Canmart shoppable videos, place products in a native shopping cart and checkout all without leaving Facebook or Instagram. This integration marks a significant enhancement, allowing Canmart to showcase vendor products not only on its own Canmart platform but also through shoppable content on Facebook and Instagram, creating a massive expansion of the addressable audience of prospective buyers who want to shop without leaving their Facebook or Instagram app.
Canmart is a licensed importer and distributor of Cannabis-Based Products for Medicinal use (CBPMs) in the UK and provides third party and specialist import and distribution services for Schedule 2 products including CBPM’s. Canmart continues to work further with premium product suppliers to bring safe, effective and required products to market that patients demand, and working with existing and new clinical cannabis operations in the UK to provide third party products. Canmart also works to supply customers with vape hardware for liquid and dry herb vapes to its patients, offering drop ship capabilities via partner websites for smaller or remote pharmacies and clinics not able to hold stock.
If compared to the average trading volume of 2.66M shares, AKAN reached a trading volume of 48759426 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Akanda Corp [AKAN]:
The Average True Range (ATR) for Akanda Corp is set at 0.04, with the Price to Sales ratio for AKAN stock in the period of the last 12 months amounting to 0.46. The Price to Book ratio for the last quarter was 0.03, with the Price to Cash per share for the same quarter was set at 0.06.
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 25.52. With this latest performance, AKAN shares dropped by -6.91% in over the last four-week period, additionally sinking by -68.87% over the last 6 months – not to mention a drop of -83.22% 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 44.79, with the RSI for the last a single of trading hit 50.99, and the three-weeks RSI is set at 42.00 for Akanda Corp [AKAN]. The present Moving Average for the last 50 days of trading for this stock 0.2287, while it was recorded at 0.1268 for the last single week of trading, and 0.4544 for the last 200 days.
Akanda Corp [AKAN]: A deeper dive into fundamental analysis
Akanda Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.14 and a Current Ratio set at 0.26.
An analysis of Institutional ownership at Akanda Corp [AKAN]
The top three institutional holders of AKAN stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in AKAN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in AKAN stock with ownership which is approximately 5.8386%.
