Is Cannabis Stock Greenlane Holdings (GNLN) Finally on the Right Track?

Within the mix of companies associated with the cannabis industry, Greenlane Holdings (GNLN) spent much of this year among the least appealing stocks. From the beginning of 2020 through…

mid-October, our proprietary POWR Ratings service gave it either D or F grades; it only began to fluctuate between a C and a D from mid-October to late-November.

GNLN muscled its way into a B rating at the end of November and moved into December as a “Buy,” even snagging an A grade for “Strong Buy” over a couple of days. This dramatic comeback might have occurred too far below the proverbial radar to warrant wider attention, which makes GNLN among the most intriguing cannabis stocks to watch into 2021.

Headquartered in Boca Raton, Florida, GNLN distributes cannabis accessories and lifestyle products in global markets, with a customer base of more than 7,000 retail outlets and several B2C e-commerce sites aimed at the North American and European markets. The company owns a well-regarded product portfolio that features the Higher Standards retail chain – its flagship store is in Manhattan’s trendy Chelsea Market – and a range of brands including Vibes rolling papers, Green Lotus CBD tinctures and gummies and the Marley line of pipes, cases and bubblers. Furthermore, the company is partnered with several leading cannabis industry brands including the Canopy Growth Corp. (CGC)-owned Storz & Bickel and PAX Labs.

So why has 2020 been such a desultory odyssey for GNLN until the last several weeks of the year? Let’s break it down by…

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