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Why Did Greenlane Holdings Plunge 11.11%?
Generated by AI AgentAinvest Pre-Market Radar
Wednesday, Jun 25, 2025 4:29 am ET1min read
Greenlane Holdings' stock price plummeted by 11.11% in pre-market trading on June 25, 2025, marking a significant decline for the company.
Greenlane Holdings, Inc. has announced a one-for-750 reverse stock split of its Class A common stock, effective June 26, 2025. This move is aimed at meeting the minimum bid price requirement for continued listing on the Nasdaq. The reverse stock split will reduce the number of outstanding shares from approximately 1.04 billion to 1.39 million, while the company's equity interests remain unchanged. The new CUSIP for the stock is 395330509, and the change will take effect on June 27, 2025, under the same ticker, GNLN. No fractional shares will be issued, and stockholders will receive rounded-up shares to the nearest whole number.
The decision to implement the reverse stock split was approved by Greenlane's board and shareholders. This strategic move is expected to help the company comply with Nasdaq's listing requirements and potentially stabilize its stock price in the long run. The announcement has sparked investor interest and speculation about the company's future performance and strategic direction.
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