Akanda Corp. stock jumped as much as 89% after hours Thursday, and was up around 57% in pre-market trading Friday, after the company released an operational update from its wholly owned Mexican subsidiary, First Towers & Fiber Corp.
The stock closed Thursday’s regular session at $5.01, down 7.05%, before the after-hours surge sent it toward $9.49.
FTF announced it completed the physical installation of a 200-kilometer fiber optic network in Mexico. The first half of that network, 100 kilometers, has been formally accepted by a network provider client and entered the billing phase.
Cash flow from that first 100km is now expected to start arriving in August or September 2026. That is the detail that appears to have moved the needle for investors.
The remaining 100 kilometers are targeted for client acceptance by December 2026. Once that happens, the full network is projected to reach commercial run-rate cash flow starting January 2027.
FTF said the fiber deployment covers the Irapuato-Silao industrial corridor in Guanajuato, a region the company views as a key local market. The move is intended to strengthen FTF’s regional presence in Mexico.
FTF President Chris Cooper said the update marks “a meaningful step toward the recurring revenue growth we’ve been building toward.”
The subsidiary also runs 28 active cellular tower sites under a passive leasing model. That adds another stream of recurring revenue to the picture.
There were no analyst upgrades or competitor news tied to Friday’s move. The broader market was essentially flat, with the Nasdaq up 0.2% and the S&P 500 up 0.1%. The move in AKAN is company-specific.
Akanda has a market cap of roughly $2.71 million. The stock has a 52-week high of $209.03 and a 52-week low of $2.30, which tells you everything you need to know about how volatile this name has been.
Over the past 12 months, AKAN has fallen 94.80%. The stock’s RSI sat at 29.27 heading into Thursday’s session, placing it close to oversold territory.
AKAN has also faced Nasdaq compliance challenges in the past, which makes the news of imminent recurring revenue a more meaningful catalyst for this particular stock.
The transition from construction to cash flow, confirmed by formal client acceptance, is what drove the sharp pre-market repricing.
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