Ascend Wellness Shares Climb 5.3% Amid Low Trading Volume

LOS ANGELES- Shares of Ascend Wellness Holdings, Inc. rose by 5.3% on Friday, reaching an intraday high of $0.82 before closing at $0.80. This upward movement came despite a notable decrease in trading volume, with only 57,558 shares changing hands, a significant 73% drop from the average daily volume of 209,931 shares. The stock had previously closed at $0.76, reflecting a modest gain in investor sentiment.

This recent activity occurs against the backdrop of Ascend Wellness’ operations in the cannabis sector, where it focuses on the cultivation and distribution of cannabis products across multiple U.S. states. Analysts have expressed optimism about the stock’s performance, with some upgrading it to a “strong buy” earlier this year, underlining its potential within the volatile market