May 22nd - $Akanda (AKAN.US)$ is about to implement a 1-for-40 reverse stock split of shares. The shares will begin trading on a split-adjusted basis from May 23rd, 2024.
$Akanda (AKAN.US)$ slipped 30.44% and closed at $0.093 on May 21st with a turnover of $4.53 million. $Akanda (AKAN.US)$ now has a total market capitalization of $7.13 million.
What Is a Reverse Stock Split?
A reverse stock split consolidates the number of existing shares of stock held by shareholders into fewer shares. It does not directly impact a company's value. And it can signal a company in distress since it raises the value of otherwise low-priced shares.
Note:
The company's actual implementation is subject to the final disclosure submitted to the exchange. The information provided herein is for reference only.