Akanda Corp. (NASDAQ: AKAN) has been seeing a remarkable price rally in recent days, which saw it climb up from $0.17 to almost $0.60, in a matter of days. Even though AKAN stock eventually fell back “down” to $0.30, its price rise remains phenomenal, and the company finds itself in the market spotlight.
Akanda Corp. Makes Entry into the German Market
A core reason behind why the stock of Akanda Corp. (AKAN) has been on a roll lately most likely links to the company’s recent strategic shift of targeting a 10% market share in the German cannabis market. Furthermore, the first shipment and sale to the German-licensed dispensary have recently been made, finalizing Akanda’s entry into the lucrative European market. This signifies a strategic shift for the company, as it looks to shut down its operations throughout each of its African locations and focus instead on Europe.
AKAN sets its sights on the future
AKAN stock may see a surge in its future growth potential, given the company’s ambitions that management has been vocal about. In fact, throughout 2022, the company has been restructuring its organization with its future trajectory in mind and has been making some serious additions to its board of directors. It further went on to hire top executives who have had exposure in Europe’s medical cannabis markets, as well as those working closely alongside EU’s GMP-licensed cultivation facilities. Therefore, these moves demonstrate a significant milestone achievement by the company, moving forward, and vastly improving its capability to execute on the European markets.
AKAN stock has been seeing a drastic surge, as it shifts gears, and focuses solely on its European expansion ambitions. Its recent entry into the German market emphasizes the degree to which it is on course to meeting this goal, and taking its business to a whole new level.