Cannabis Company Akanda Up 163% in IPO Debut
Halo Collective Inc. (NEO: HALO) (OTCQB: HCANF), which holds a 44% stake in Akanda Corp. is benefiting from the new IPO.
Better, Akanda has plans to target the global medical cannabis market, which could be worth about $47 billion by 2027.
That alone could give Halo Collective a unique opportunity, as well.
“Becoming the first UK cannabis company with African operations to list on the Nasdaq is an important milestone for our Company and the industry,” said Tej Virk, Chief Executive Officer of Akanda. “Now, with new capital and increasing patient access across the UK and Europe, we believe Akanda is well-positioned to continue on its mission of helping people lead better lives through high-quality and affordable products. We are building a unique seed-to-patient model, focused on growing, moving and healing, with a foundation rooted in what we view as strong ethics and business practices.”
In addition to Akanda Corp. and Halo Collective, the news has been positive for Canopy Growth (TSX:WEED)(NASDAQ:CGC), Tilray Inc. (NASDAQ:TLRY) (TSX:TLRY), and OrganiGram Holdings (NASDAQ:OGI)(TSX:OGI), as well.