Akanda shares surge 20.67% intraday after announcing 30.31 million share offering to expand market presence.

Akanda Corp. (AKAN) surged 20.67% during intraday trading following the announcement that it plans to issue 30.31 million common shares to raise capital and expand its market presence. The company, primarily operating in the financial sector, cited the capital raise as a strategic move to strengthen its market position. The stock’s sharp intraday increase aligns with the perceived positive implications of the equity offering, which investors likely interpreted as a step toward growth and operational expansion.