Canna-Global Acquisition (NASDAQ:CNGL) Shares Down 7.2% – Here’s Why

Canna-Global Acquisition Corp (NASDAQ:CNGL)’s share price was down 7.2% 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 Price Performance

The business has a fifty day moving average of $10.74 and a 200-day moving average of $10.84.

Institutional Investors Weigh In On Canna-Global Acquisition

A number of institutional investors and hedge funds have recently bought and sold shares of CNGL. Quarry LP purchased a new position in shares of Canna-Global Acquisition during the second quarter valued at $261,000. K2 Principal Fund L.P. purchased a new stake in Canna-Global Acquisition in the second quarter worth about $341,000. Finally, Clear Street LLC grew its holdings in Canna-Global Acquisition by 553.7% during the 2nd quarter. Clear Street LLC now owns 150,000 shares of the company’s stock worth $1,565,000 after acquiring an additional 127,053 shares in the last quarter. 19.55% of the stock is owned by institutional investors.

Canna-Global Acquisition Company Profile

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.