AKAN - Akanda Corp 4M Float Cannabis IPO (March 15)

Just starting a thread here of an international medical cannabis IPO that will be occurring on March 15, which was postponed from a couple of weeks ago. The initial offering will be valued at $16M with 4M shares at a price of $4. Keeping it short and simple until I have more time to add details.

I will be approaching this the same way I approached BWV (TAKE PROFITS). Retail involvement should always be expected on these types of plays. I am assuming it will run up, I’ve been looking at low float IPO’s and they typically have some kind of pop and stay above IPO price for a limited time before dropping or share unlocks occurring. Take a look BWV, MGLD (I was actually looking at this, but I was misinformed by a source that it’s not a true IPO so I chose to ignore it instead of digging deeper), and others.

Here is the website, feel free to add your own analyses in meantime: Akanda Corp - Grow. Move. Heal.

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Today is IPO day. New press release from yesterday:


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It seems to have found a bottom around $10.50. Grabbed 100 shares here to scalp after-hours for quick profits.

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Closed at $11 as I’m currently playing the China recovery. I’m starting to see similarities in how low float IPO’s move. I will elaborate more on that when I find a different play. It will be highlighted in how I expect to play it. For now, $AKAN is over for me as I’m making profits elsewhere.