featured-image

Petr Vdovkin/iStock via Getty Images Shares of Akanda ( NASDAQ: AKAN ) were down 24% Thursday morning in the wake of a 1-for-40 reverse stock split. Akanda shares recently sold for $2.75 per share at around 10:40 a.

m. ET. The stock closed on a split-adjusted basis at $3.



66 on Wednesday. The U.K.

-based medical cannabis company announced on May 21 that it intended to implement at 1-for-40 reverse split on May 23. Previously, it conducted a 1-for-10 reverse split in March 2023. On May 17, the company said it had agreed to sell $4M of its common shares and pre-funded warrants to buy common shares through two registered direct offerings.

More on Akanda Corp. Akanda announces subsequent registered direct offering Akanda announces registered direct offering priced ATM Financial information for Akanda Corp..

Back to Health Page