Greenlane Holdings Inc. (NASDAQ: GNLN ) shares surged 71.72% to $1.58 in after-hours trading on Wednesday.
The stock of the Florida-based company closed regular trading at $0.92, down 7.05%, according to Benzinga Pro data.
No obvious reason for the after-hours jump was clear.
Cryptocurrency Agreements Disclosed
On Feb. 4, Greenlane Subsidiary Inc., a wholly owned subsidiary of Greenlane Holdings, signed a Token Purchase and Sale Agreement and a Token Lending Agreement with Cayman Islands–based Berachain Operations Corporation, according to a Feb. 9 Securities and Exchange Commission filing.
Greenlane Holdings, a major player in the cannabis industry that primarily operates as an ancillary company, announced in late January that it is pursuing a Berachain-focused digital asset treasury strategy.
Trading Metrics, Technical Analysis
Greenlane Holdings has a market capitalization of $7.33 million, with a 52-week high of $982.52 and a 52-week low of $0.90.
The Relative Strength Index (RSI) of GNLN stands at 18.41.
Over the past 12 months, the stock has seen a staggering decline of 99.90%.
Currently, the stock is positioned just above its 52-week low, roughly 0.002% above the bottom of its annual range.
Benzinga’s Edge Stock Rankings indicate that GNLN has a negative price trend across all time frames.
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