Akanda Corp. (NASDAQ:AKAN) shares are climbing Friday morning after its wholly owned subsidiary, First Towers & Fiber Corp. (FTF), delivered a comprehensive operational and expansion update.
- Akanda shares are powering higher. What’s behind AKAN gains?
Revenue Growth and Regional Expansion
The deployment supports a strategic push into the Guanajuato region, specifically targeting the Irapuato-Silao industrial corridor. According to the company, the first 50 percent (100 kilometers) of the fiber network has been formally accepted by a client and entered the billing phase, with initial lease cash flow anticipated between August and September 2026.
The remaining 100 kilometers are slated for client acceptance by December 2026. Management projects that the entire network will hit full commercial run-rate cash flow by January 2027.
Management Commentary
Chris Cooper, President of FTF, emphasized the significance of the update: “This update reflects the steady execution of our fiber and tower strategy in Mexico.
Completing installation on the full 200-kilometer network, and bringing the first half into billing, is a meaningful step toward the recurring revenue growth we’ve been building toward. We’re equally pleased to extend our footprint into Guanajuato, a corridor that we believe strengthens our position with key partners in the region.”
AKAN Shares Skyrocket Friday Morning
AKAN Price Action: Akanda shares were up 37.52% at $6.88 at the time of publication on Friday. The stock is trading near its 52-week low of $2.29, according to Benzinga Pro data.
Image: Shutterstock