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

Akanda Corp. (NASDAQ:AKAN) was the target of a significant decline in short interest during the month of May. As of May 31st, there was short interest totalling 16,000 shares, a decline of 32.5% from the May 15th total of 23,700 shares. Currently, 0.7% of the company’s stock are sold short. Based on an average trading volume of 30,400 shares, the days-to-cover ratio is presently 0.5 days.

Akanda Price Performance

AKAN stock traded up $0.01 during mid-day trading on Tuesday, hitting $1.29. 4,338 shares of the company were exchanged, compared to its average volume of 52,876. Akanda has a twelve month low of $0.93 and a twelve month high of $5.76. The firm has a fifty day simple moving average of $1.22 and a 200 day simple moving average of $1.44.

About Akanda

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.