Greenlane Holdings, a leading cannabis accessories and vaporization products company, announced a $6.5 million private placement to fuel working capital and general corporate purposes, including the nationwide distribution of its Safety Strips fentanyl test strips. The investment follows Greenlane’s recent initiative to combat the opioid crisis with its FDA-validated fentanyl detection technology.
Results for: Greenlane Holdings
Greenlane Holdings (GNLN) stock experienced a dramatic surge on Monday, fueled by the company’s announcement of an exclusive distribution agreement for Safety Strips, a product offering fentanyl, xylazine, and drink spike detection tests. However, the stock has since pulled back significantly, highlighting the volatility of the market and investor sentiment.