Greenlane Holdings Shares Surge 71.72% in After-Hours Trading

Written by Emily J. Thompson, Senior Investment Analyst

Source: Benzinga

Updated: 4 days ago

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GNLN-1.25%

Should l Buy GNLN?

Source: Benzinga

Significant Price Fluctuation: Greenlane Holdings Inc. saw its shares surge 71.72% to $1.58 in after-hours trading on Wednesday, contrasting with a regular trading close of $0.92, down 7.05%, indicating mixed market sentiment regarding its future potential.
Cryptocurrency Agreements Signed: The wholly-owned subsidiary of Greenlane signed a Token Purchase and Sale Agreement and a Token Lending Agreement with Cayman Islands-based Berachain Operations Corporation on February 4, marking a strategic move into the digital asset space.
Market Performance Analysis: With a market capitalization of $7.33 million, Greenlane Holdings has experienced a staggering 99.90% decline in stock price over the past 12 months, currently positioned just above its 52-week low, highlighting its fragile market standing.
Technical Indicators Warning: GNLN's Relative Strength Index (RSI) stands at 18.41, indicating a negative price trend across all time frames, reflecting investor pessimism about its future performance.

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About GNLN

Greenlane Holdings, Inc. provides a global platform for the development and distribution of smoking accessories, vape devices, and lifestyle products to producers, processors, specialty retailers, smoke shops, convenience stores, and retail consumers. The Company operates as a family of brands, third-party brand accelerator, and an omnichannel distribution platform. The Company offers its own diverse brand portfolio and its licensed Marley Natural and K.Haring branded products. It also offers a set of third-party products through its direct sales channels and its proprietary, owned and operated e-commerce platforms. Its Greenlane Brands include Groove, its smoke shop and ancillary product brand - Higher Standards, and its child-resistant packaging brand - Pollen Gear. It merchandises vaporizers, packaging, and other ancillary products in the United States, Canada, Europe, and Latin America. Its third-party brands include Storz and Bickel, Grenco Science, PAX, and Cookies.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.

Greenlane Holdings Stock Pulls Back After Surge

2 days agoBenzinga

Price Volatility: Greenlane Holdings saw an 11.14% drop to $0.78 in premarket trading on Friday, reversing part of the dramatic 71.72% surge during Wednesday's after-hours trading, indicating market concerns about its future performance.
Market Trend Comparison: While Nasdaq futures rose by 0.14% and S&P 500 futures gained 0.12%, Greenlane's stock moved against this trend, highlighting its weak performance in the overall market environment.
Technical Analysis: The stock is currently trading 41.3% below its 20-day simple moving average and 71% below its 100-day SMA, indicating significant weakness in the short to medium term, with shares decreasing by 99.90% over the past 12 months.
Support and Resistance Levels: Key support is at $0.70 and resistance at $1.00, with the current RSI at 16.77 indicating oversold conditions, while the MACD suggests bearish momentum, reflecting ongoing challenges faced by the company.

Applied Materials Reports Strong Q1 Results, Shares Surge

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Earnings Beat: The company posted adjusted earnings of $2.38 per share for the first quarter, surpassing the $2.20 estimate, reflecting improved cost control and operational efficiency, which is likely to attract more investor interest.
Stock Surge: Following the earnings report, Applied Materials shares jumped 11.9% to $367.50 in pre-market trading, indicating a positive market sentiment towards the company's growth prospects, potentially boosting investor confidence further.
Positive Q2 Guidance: The company issued second-quarter guidance above market expectations, demonstrating management's confidence in future performance, which is expected to drive more capital inflows and enhance its competitive position in the industry.

Fastly Reports Strong Quarterly Earnings Exceeding Expectations

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Strong Earnings Performance: Fastly reported earnings of $0.12 per share, surpassing analyst expectations of $0.06, indicating a significant improvement in profitability and boosting market confidence in future growth.
Significant Revenue Growth: The quarterly revenue reached $172.61 million, exceeding Wall Street's estimate of $161.36 million and up from $140.58 million in the same period last year, demonstrating the company's robust performance amid recovering market demand.
Stock Price Surge: Fastly's shares jumped 34.8% to $12.55 in pre-market trading, reflecting a positive investor reaction to the earnings report, which may attract more investor interest in its future developments.
Increased Market Confidence: The strong earnings report not only enhances investor confidence but may also prompt analysts to revise their ratings and price targets for the company, potentially driving further stock price increases.