Greenlane Holdings, Inc. (NASDAQ: GNLN) has witnessed a notable current-market increase in its share value this morning, following the accolade received by its online platform. As of the latest update, GNLN stock is trading at $3.35, marking a 30.86% rise on the US stock exchange.
Recognition of Vapor.com
Greenlane (GNLN) announced that its online store, Vapor.com, has been distinguished in USA Today’s “America’s Top Online Shops” list. This recognition follows a comprehensive survey conducted in partnership with Plant A Insights, where over 45,000 consumers and more than 267,000 retailer reviews were analyzed.
Consumers provided feedback based on their recent experiences purchasing products or seeking information online over the past three years. Vapor.com is committed to delivering exceptional and seamless online shopping experiences, underscoring Greenlane’s dedication to placing the customer at the heart of its operations.
The platform offers a secure and informed vaporization purchasing experience, with each product meticulously assessed to ensure quality. GNLN emphasizes superior customer service, both prior to and following the purchase.
Greenlane outlined the financial outlook and strategic milestones.
Greenlane has sent a letter to shareholders outlining a number of strategic goals and expected milestones for the second half of 2024. By building a stronger base, these initiatives hope to improve sales and operational effectiveness while opening the door to profitability.
GNLN is committed to attaining sustainable, profitable growth by stepping up its efforts to improve productivity and efficiency by cutting Selling, General, and Administrative (SG&A) expenses significantly. In an effort to increase intelligence, efficiency, and flexibility, Greenlane has reorganized its organizational structure.
The company hopes that this will result in more value being unlocked for its owners, team members, and clients. Furthermore, Greenlane is now completing deals with important creditors to restructure its financial commitments.
By reducing overall debt, extending maturities, and lowering short-term cash burn and interest costs, these transactions should improve GNLN’s financial flexibility and help the business achieve its goals of profitability and expansion.