Canna-Global Acquisition (NASDAQ:CNGL) Shares Down 7.2% – Time to Sell?

Posted by Doug Madison on Jan 18th, 2025

Canna-Global Acquisition Corp (NASDAQ:CNGL – Get Free Report) shares dropped 7.2% on Wednesday . The stock traded as low as $10.21 and last traded at $10.21. Approximately 190 shares were traded during mid-day trading, a decline of 100% from the average daily volume of 76,616 shares. The stock had previously closed at $11.00.

Canna-Global Acquisition Price Performance

The company’s fifty day moving average price is $10.74 and its 200-day moving average price is $10.84.

Institutional Trading of Canna-Global Acquisition

Several institutional investors have recently added to or reduced their stakes in CNGL. Clear Street LLC raised its holdings in shares of Canna-Global Acquisition by 553.7% in the second quarter. Clear Street LLC now owns 150,000 shares of the company’s stock worth $1,565,000 after buying an additional 127,053 shares during the period. K2 Principal Fund L.P. bought a new position in Canna-Global Acquisition in the 2nd quarter valued at $341,000. Finally, Quarry LP bought a new position in Canna-Global Acquisition in the 2nd quarter valued at $261,000. Institutional investors own 19.55% of the company’s stock.

About Canna-Global Acquisition

(Get Free Report)

Canna-Global Acquisition Corp. does not have significant operations. The company intends to acquire and engage in a share exchange, share reconstruction, and amalgamation with one or more businesses or entities. It intends to focus its search of target business in the cannabis industry. The company was incorporated in 2021 and is based in Marina Del Rey, California.