Akanda Corp. (NASDAQ:AKAN) Sees Significant Growth in Short Interest

Akanda Corp. (NASDAQ:AKAN) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 31,200 shares, a growth of 171.3% from the December 31st total of 11,500 shares. Currently, 2.2% of the company’s stock are sold short. Based on an average daily volume of 118,500 shares, the short-interest ratio is presently 0.3 days.

Akanda Stock Performance

AKAN traded down $0.06 during trading hours on Thursday, hitting $1.57. 42,709 shares of the stock were exchanged, compared to its average volume of 78,215. Akanda has a 12 month low of $1.22 and a 12 month high of $56.80. The stock has a 50-day simple moving average of $1.58 and a 200-day simple moving average of $2.11.

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.