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Tag: Greenlane stock

  • Greenlane (GNLN) Stock Gains Traction With Exclusive Agreement

    Greenlane (GNLN) Stock Gains Traction With Exclusive Agreement

    In the early trading session today, shares of Greenlane Holdings, Inc. (NASDAQ: GNLN) rose nearly 5% to $2.68. This increase followed the announcement of a new distribution partnership, positioning GNLN for potential growth in the substance testing and wellness markets.

    Exclusive Partnership for Substance Detection Products

    Greenlane (GNLN) revealed a multi-year distribution agreement with Safety Strips Tech Corp (“Safety Strips”) to exclusively distribute its fentanyl, xylazine, and drink spike detection test strips across the United States.

    Given that the continuing opioid crisis is driving demand for easily accessible and dependable drug-testing solutions, Greenlane’s strategic aims are in line with its expansion into this product area. GNLN hopes to provide affordable testing strips through this collaboration, which may help stop unintentional overdoses and shield people from drug-facilitated assault.

    Greenlane expands its product line and addresses a pressing public health need with the release of these affordable and reliable test strips. With the use of Safety Strips’ technology, people may check substances for the presence of two powerful additives connected to the escalating opioid crisis: fentanyl and xylazine.

    New Developments in Inhalation and Wellness Products

    A non-binding letter of intent (LOI) was signed last month by Greenlane and CURB Lifestyle, Inc. (“CURB”) to market CURB’s proprietary non-heating inhalation device in Americas, and Europe. CURB’s device is anticipated to be accessible by mid-November 2024 and will be given to dispensaries as a healthier alternative to cannabis use. It will also be marketed on Greenlane’s wholesale and e-commerce channels.

    Dedication to Increasing Wellness Offerings

    Greenlane intends to work with CURB to provide a variety of wellness items that will complement customers’ everyday activities. These wellness formulas will target health areas such as stress relief, workout recovery, sleep enhancement, and general lifestyle improvement.

    Greenlane and CURB’s joint efforts aim to provide versatile options for integrating wellness seamlessly into daily life, further diversifying the company’s product line in a rapidly growing market. Through strategic partnerships and product innovation, GNLN strengthens its position as a comprehensive provider in both substance safety and wellness, addressing pressing consumer demands and public health challenges.

  • Pre-Hours Fall For Greenlane (GNLN) Shares After Significant Previous Rise

    Pre-Hours Fall For Greenlane (GNLN) Shares After Significant Previous Rise

    Greenlane Holdings, Inc. (NASDAQ: GNLN) is witnessing a notable dip in its stock value during today’s pre-market trading. Currently, GNLN shares have fallen by 4.57%, trading at $5.64. This decline follows a substantial 32.81% surge in the previous trading session, which saw the stock rise to $5.91. The earlier increase was fueled by recent announcements concerning a major new product launch.

    Greenlane Announced New Product Launch and Distribution Agreement

    Greenlane (GNLN) announced that it will be launching a new line of test strips under the Safety Strips, Inc trademark. These test strips are intended to identify drugs that spike drinks, such as xylazine and fentanyl.

    The company’s online retail platforms and wholesale site will take orders for these items starting on September 25. Shipments are expected to commence on October 1. A non-binding letter of intent to act as Safety Strips’ sole US distributor for drug detection test strips was also announced by Greenlane in August.

    The Opioid Crisis Effects

    In the past several years, there has been a notable increase in the opioid problem. The number of drug-related deaths in the United States increased from 17,500 in 2000 to about 106,000 in 2021, according to SHADAC.ORG. Of these overdose deaths, nearly 71,000 have been linked to synthetic opioids, specifically fentanyl.

    The widespread effects of fentanyl also extend to other drugs, including as prescription opioids, cocaine, and methamphetamines, all of which are frequently linked to overdose events.

    Greenlane Is Combating the Overdose Events

    Greenlane, with its vast sales, marketing, and distribution network, aims to mitigate the overdose problem. It is expected that the collaboration between GNLN and Safety Strips would make accurate, easily navigable test strips with a broad variety of substance detection capabilities more widely available.

    The company’s commitment to public safety in the face of the ongoing crisis is reflected in this project, which is in line with Greenlane’s goal to avoiding accidental overdoses and shielding people from drug-induced date rape.

  • Greenlane (GNLN) Stock Jumps After Its Online Shop Receives Prestigious Recognition

    Greenlane (GNLN) Stock Jumps After Its Online Shop Receives Prestigious Recognition

    Greenlane Holdings, Inc. (NASDAQ: GNLN) has witnessed a notable current-market increase in its share value this morning, following the accolade received by its online platform. As of the latest update, GNLN stock is trading at $3.35, marking a 30.86% rise on the US stock exchange.

    Recognition of Vapor.com

    Greenlane (GNLN) announced that its online store, Vapor.com, has been distinguished in USA Today’s “America’s Top Online Shops” list. This recognition follows a comprehensive survey conducted in partnership with Plant A Insights, where over 45,000 consumers and more than 267,000 retailer reviews were analyzed.

    Consumers provided feedback based on their recent experiences purchasing products or seeking information online over the past three years. Vapor.com is committed to delivering exceptional and seamless online shopping experiences, underscoring Greenlane’s dedication to placing the customer at the heart of its operations.

    The platform offers a secure and informed vaporization purchasing experience, with each product meticulously assessed to ensure quality. GNLN emphasizes superior customer service, both prior to and following the purchase.

    Greenlane outlined the financial outlook and strategic milestones.

    Greenlane has sent a letter to shareholders outlining a number of strategic goals and expected milestones for the second half of 2024. By building a stronger base, these initiatives hope to improve sales and operational effectiveness while opening the door to profitability.

    GNLN is committed to attaining sustainable, profitable growth by stepping up its efforts to improve productivity and efficiency by cutting Selling, General, and Administrative (SG&A) expenses significantly. In an effort to increase intelligence, efficiency, and flexibility, Greenlane has reorganized its organizational structure.

    The company hopes that this will result in more value being unlocked for its owners, team members, and clients. Furthermore, Greenlane is now completing deals with important creditors to restructure its financial commitments.

    By reducing overall debt, extending maturities, and lowering short-term cash burn and interest costs, these transactions should improve GNLN’s financial flexibility and help the business achieve its goals of profitability and expansion.

  • Greenlane (GNLN) And KushCo (KSHB) Announce Merger In All Stock Deal

    Greenlane (GNLN) And KushCo (KSHB) Announce Merger In All Stock Deal

    Stock price of Greenlane Holdings, Inc. (GNLN) surged over 32% after the cannabis focused service provider confirmed an all-stock merger of OTC traded KushCo Holding (KSHB), another cannabis accessory company.  In accordance to the merger contract for every purchase of KushCo common stock, shareholders will receive approximately 0.2546 shares of GNLN, as a result, KSHB shareholders holding 49.9% of the company while GNLN having the decision making authority at 50.1%

    The merged board of directors will consist of 4 members from GNLN and 3 members from KSHB with merger transaction expected to be finalized by the second quarter of 2021.

    After the completion of the merger, the CEO of kushCo, Nick Kovacevich has been appointed to become the CEO while the Co-founder of GNLN Aaron LoCascioashas opted to become president of the combined companies.

    Why this merger is transformative for both companies.

    The merged company is expected to provide more value to consumers, with an extended supply chain,  vast distribution network, licensed producers, various cannabis stores, and millions of clients. The company is projected to yield approximately $20M accumulated yearly costs, with a larger combined production reducing the overall costs giving the company an advantage over its competitors.

    Furthermore, market capitalization over $350M and expected net revenue of $330M in 2021 has investors keen on how the net proceeds have immensely increased.  The merger transaction is expected to be exempted from any tax due to income tax purposes bringing substantial synergies between the two business models.

    Conclusion

    GNLN offered a better-than-expected outlook for the current quarter and anticipates sales and profits to grow for the full year after the merger with KSHB. Furthermore, a larger distribution network and an increase in the cannabis retail market combined with a diversified product line has peaked investor interest in the company stock.

  • Pre-Market Cues: 32 Stocks Roaring for Change On December 1st

    Pre-Market Cues: 32 Stocks Roaring for Change On December 1st

    China Automotive Systems Inc. (CAAS) stock soared 2.38% to $10.75 in the pre-market trading after reporting that it shipped approximately 120,000 units from its portfolio of electric power steering products for use in Chinese electric vehicles during 2020. The most recent rating by Brean Murray, on August 15, 2011, is a Hold.
    Before the trading started on December 01, 2020, G1 Therapeutics Inc. (GTHX) is up 4.05% to reach $19.0. It has been trading in a 52-week range of $8.80 to $31.38.
    Sundial Growers Inc. (NASDAQ: SNDL) shares are trading up 29.83% at $0.947 at the time of writing following the announcement its elimination of senior secured second lien convertible notes. Company’s 52-week ranged between $0.14 to $3.88.
    Jaguar Health Inc. (JAGX) grew over 69.45% at $0.5929 in pre-market trading today.
    SuperCom Ltd. (SPCB) stock moved down -10.74 percent to $1.08 in the pre-market trading and the company recently declared that it has secured a contract to provide its PureSecurity Electronic Monitoring (EM) suite in Wisconsin.
    MicroStrategy Incorporated (NASDAQ: MSTR) shares are trading up 4.93% at $359.66 at the time of writing. Company’s 52-week ranged between $90.00 to $280.00. Analysts have a consensus price target of $200.
    Veritone Inc. (VERI) grew over 4.4% at $27.78 in pre-market trading today after announcing that it now supports NVIDIA CUDA for GPU-based AI and machine learning.
    Before the trading started on December 01, 2020, Creative Realities Inc. (CREX) is down -7.26% to reach $1.15. It has been trading in a 52-week range of $0.52 to $5.98.
    Moderna Inc. (MRNA) stock soared 10.32% to $168.5 in the pre-market trading after declaring that the primary efficacy analysis of the Phase 3 study of mRNA-1273 conducted on 196 cases confirms the high efficacy observed at the first interim analysis. The most recent rating by Wells Fargo, on November 23, 2020, is an Equal weight.
    VBI Vaccines Inc. (VBIV), a Biotechnology company, rose about 3.94% at $3.56 in pre-market trading Tuesday.
    Schultze Special Purpose Acquisition Corp. (SAMA) stock moved up 2.86 percent to $12.6 in the pre-market trading after reporting effectiveness of registration statement for proposed business combination with Clever Leaves International Inc.
    Celsion Corporation (CLSN) gained over 5.59% at $0.71 in pre-market trading Tuesday December 01, 2020.
    Nano-X Imaging Ltd. (NNOX) is up more than 5.22% at $64.5 in pre-market hours Tuesday December 01, 2020. The healthcare firm lately announced revised time of live demonstration at the 2020 radiology society of North America virtual annual meeting. The stock had jumped over 17.21% to $61.30 in the last trading session.
    Before the trading started on December 01, 2020, Greenlane Holdings Inc. (GNLN) is up 2.89% to reach $4.27. It has been trading in a 52-week range of $1.02 to $4.20.
    Mogo Inc. (MOGO) stock soared 3.77% to $2.75 in the pre-market trading. The firm recently declared the release of its new updated Mogo app featuring an interactive Rainforest Mode as part of the MogoCard experience. The most recent rating by Raymond James, on July 23, 2020, is an Outperform.
    Altimmune Inc. (NASDAQ: ALT) shares are trading up 9.57% at $13.4 at the time of writing. Company’s 52-week ranged between $1.60 to $35.10. Analysts have a consensus price target of $28.
    Novavax Inc. (NVAX) grew over 6.09% at $148.0 in pre-market trading today following publication its COVID-19 vaccine clinical development progress.
    Marathon Patent Group Inc. (MARA), a Capital Markets company, rose about 7.96% at $6.78 in pre-market trading Tuesday.
    Aphria Inc. (APHA) is up more than 3.46% at $8.67 in pre-market hours Tuesday December 01, 2020. The healthcare company recently revealed that it has closed the accretive, strategic acquisition of SW Brewing Company, LLC. The stock had jumped over 8.41% to $8.38 in the last trading session.
    AquaBounty Technologies Inc. (AQB) gained over 4.31% at $6.05 in pre-market trading Tuesday December 01, 2020.
    Before the trading started on December 01, 2020, ADMA Biologics Inc. (ADMA) is up 2.45% to reach $2.09 following the announcement its commencement of operations and initiation of collections at its newest ADMA BioCenters plasma collection facility located in Maryville, Tennessee. It has been trading in a 52-week range of $1.45 to $4.95.
    CureVac N.V. (CVAC) is down more than -3.12% at $101.89 in pre-market hours Tuesday December 01, 2020. The stock had jumped over 22.29% to $105.17 in the last trading session.
    OrganiGram Holdings Inc. (OGI) gained over 4.26% at $1.47 in pre-market trading Tuesday December 01, 2020 after releasing its results for the fourth quarter ended August 31, 2020.
    FuelCell Energy Inc. (FCEL) is down more than -3.43% at $9.85 in pre-market hours Tuesday December 01, 2020. The stock had jumped over 5.26% to $10.20 in the last trading session.
    SSR Mining Inc. (SSRM) grew over 2.12% at $18.8 in pre-market trading today. The company lately publicized that positive results of the Çöpler District master plan studies.
    Before the trading started on December 01, 2020, Entasis Therapeutics Holdings Inc. (ETTX) is up 4.35% to reach $1.92. It has been trading in a 52-week range of $1.58 to $5.64.
    Luokung Technology Corp. (LKCO) is up more than 2.93% at $0.6 in pre-market hours Tuesday December 01, 2020 after the firm reported that it won bid for Heilongjiang Institute of Technology (“HIT”) Smart Campus first phase procurement project of USD 1.3 million. The stock had jumped over 4.09% to $0.58 in the last trading session.
    Riot Blockchain Inc. (RIOT) is up more than 3.55% at $8.75 in pre-market hours Tuesday December 01, 2020. The stock had jumped over 35.20% to $8.45 in the last trading session.
    Before the trading started on December 01, 2020, Dada Nexus Limited (DADA) is down -4.28% to reach $55.47 after declaring proposed follow-on public offering of American depositary shares. It has been trading in a 52-week range of $14.60 to $56.91.
    Logitech International S.A. (NASDAQ: LOGI) shares are trading down -3.3% at $87.32 at the time of writing. Company’s 52-week ranged between $31.37 to $95.71.
    Advaxis Inc. (ADXS), a Biotechnology company, rose about 11.86% at $0.33 in pre-market trading Tuesday. The biotechnology firm recently declared closing of $9.2 million public offering.
    Arbutus Biopharma Corporation (NASDAQ: ABUS) shares are trading up 11.26% at $5.04 at the time of writing. Company’s 52-week ranged between $0.88 to $9.02. Analysts have a consensus price target of $8.