Can gnln go up to 11 again

**Greenlane's Stock Price and Market Sentiment**

1. **Reverse Stock Split and Compliance**: Greenlane's decision to implement a 1-for-11 reverse stock split was primarily aimed at maintaining compliance with Nasdaq's minimum bid price requirement. This move was necessary due to the company's previous non-compliance with Nasdaq rules, which had been resolved recently.
2. **Financial Performance Concerns**: Greenlane's financial performance has been under pressure, with a reported net loss of $28.36 million and an EBITDA of -$20.91 million for the most recent quarter. The company's stock price has been highly volatile, reflecting investor concerns about its financial health and ability to turn around its performance.
3. **Strategic Moves and Market Reaction**:
- Greenlane's strategic initiatives, such as the non-binding letter of intent to distribute Safety Strips' test strips, and the closing of a $6.5 million private placement, could be seen as attempts to bolster the company's financial position and market prospects.
- The market has reacted positively to these moves, with the stock price surging by 210% after the announcement of the distribution agreement. This suggests that investors may be optimistic about the company's ability to leverage this partnership for growth.
4. **Technical Analysis and Forecast**:
- The stock's technical indicators show a bullish sentiment, with buy signals from both short and long-term moving averages. However, the high RSI and recent price volatility suggest that the stock may be overbought and could face a correction.
- The forecast for Greenlane's stock price over the next 3 months is positive, with expectations of a 28.18% rise. However, long-term predictions indicate a more cautious outlook, with potential declines in the stock price by up to 85.23% from its current value by 2030.

In summary, while Greenlane's reverse stock split and strategic moves have led to a short-term surge in the stock price, the company's financial performance and long-term prospects remain a concern. The stock's technical indicators suggest a bullish sentiment in the short term, but investors should be aware of the potential for a correction or a longer-term decline.