AKAN - Why Weed Stock Akanda Shares Are Up Today | Benzinga
Akanda Corp. (NASDAQ:AKAN) shares are trading higher Thursday after the company announced it is evaluating opportunities to enter Bitcoin, blockchain, and AI applications in the cannabis industry.
The Details:
Akanda said it believes cryptocurrency may provide a solution to some of the cannabis industry’s banking problems by allowing the businesses to bank themselves. The company highlighted the potential of blockchain technology to trace a product’s origin, monitor handling and storage conditions, and track its distribution and sale.
Akanda also noted possible artificial intelligence applications including both market and cannabis-related scientific research.
The company announced the closing of its $5 million public offering on Wednesday.
“Akanda is in a strong position to execute a new sustainable strategic direction. The Company is in a better cash position and plans to reduce debt. We are looking forward to the ...