Canna-Global Acquisition (NASDAQ:CNGL) Stock Price Down 7.2% – Here’s What Happened

Canna-Global Acquisition Corp (NASDAQ:CNGL) traded down 7.2% during trading on Wednesday . The stock traded as low as $10.21 and last traded at $10.21. Approximately 190 shares were traded during 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 Stock Down 7.2 %

The firm’s 50-day moving average price is $10.77 and its two-hundred day moving average price is $10.84.

Institutional Trading of Canna-Global Acquisition

Institutional investors have recently added to or reduced their stakes in the business. Clear Street LLC boosted its stake in Canna-Global Acquisition by 553.7% during the 2nd quarter. Clear Street LLC now owns 150,000 shares of the company’s stock valued at $1,565,000 after purchasing an additional 127,053 shares during the period. K2 Principal Fund L.P. acquired a new position in Canna-Global Acquisition in the second quarter worth about $341,000. Finally, Quarry LP acquired a new position in shares of Canna-Global Acquisition in the 2nd quarter worth approximately $261,000. 19.55% of the stock is currently owned by institutional investors and hedge funds.

About Canna-Global Acquisition

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.