Akanda (US:AKAN) investorplace.com·2024-05-24 11:42Group 1 - Akanda (NASDAQ:AKAN) stock is experiencing significant trading activity, with over 6.3 million shares changing hands, a substantial increase from its daily average of approximately 590,000 shares [1] - The company recently executed a reverse stock split on a one-for-40 basis to increase its share price above the minimum required for listing on the Nasdaq Exchange [1] - As of Friday morning, AKAN stock has surged by 133.4% [2] Group 2 - AKAN stock has a low float of about 2.74 million units, contributing to its volatility and potential for significant price movements [2] - The stock is categorized as a penny stock, which may attract traders looking for quick profits, potentially leading to pump and dump scenarios [2] - The current trading activity may indicate speculative behavior, and investors are advised to be cautious as the stock could experience a rapid decline after the initial surge [2]