Akanda Stock Drops 19% Despite Strategic Infrastructure Gains

(RTTNews) - Akanda Corp. (AKAN) shares fell 18.71 percent to $3.54 on Wednesday, losing $0.81, despite the company confirming that its subsidiary, First Towers & Fiber, was named a preferred contractor in Mexico's Altán Redes/Red Compartida initiative, a $7 billion national telecom infrastructure program. The stock opened at $4.64 and traded between $3.40 and $9.29, compared with a previous close of $4.36 on the Nasdaq. Trading volume surged to 29.46 million shares, far exceeding the average of 142,499. Akanda now trades within a 52-week range of $2.91 to $9.29. The company controls 700 kilometers of fiber across five cities and has roughly thirty revenue-generating towers, all backed by long-term leases.