Why Greenlane Holdings Shares Are Skyrocketing 40% Higher Today

Greenlane Holdings Inc GNLN shares are trading higher by 42.12% to $0.37 after the company said it has begun shipping previously-restricted electronic nicotine delivery systems via a USPS exemption.

Greenlane says this restriction previously prevented the company from shipping vaporizers and accessories classified as electronic nicotine delivery systems via the USPS and other common parcel carriers.

CEO Nick Kovacevich continued: "We believe this new shipping capability positions us well to accelerate our growth in the vaporizer space, and to take advantage of new revenue opportunities through offering our compliant logistics capabilities to other businesses that have been impacted by the PACT Act."

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Greenlane Holdings is a distributor of vaporization products and consumption accessories in the United States.
According to data from Benzinga Pro, Greenlane Holdings has a 52-week high of $5.49 and a 52-week low of $0.22.