Denver-based Akerna Corp. (NASDAQ: KERN, KERNW) (“Akerna”), a regulatory compliance technology company in the cannabis space, hit the NASDAQ floor with a bang, jumping by as much as 200 percent during early trading. The stock debuted at $11.51 and was hovering above the $40 mark during late Friday trading.
“This is a great day for Akerna and an honor to be the first data company in the cannabis space to ring NASDAQ’s closing bell,” said Jessica Billingsley, Chief Executive Officer of Akerna. “We listed on the NASDAQ just two days ago and believe we are well positioned to realize our vision to connect businesses with data and consumers with information which will modernize and propel the cannabis industry forward.”
NASDAQ remains to be a hard nut to crack for cannabis-based companies. It was only recently that the Exchange opened up to cannabis companies with the latest, the entry of Organigram Holding Inc. (OGI). The Exchange remains to be reluctant with marijuana being a highly contentious issue among federal regulators.
What makes Akerna different?
Akerna is a company that provides software for tracking cannabis plants. This means that it is not directly involved in the cultivation or production of cannabis products. The Company currently offers its services in 29 of the 33 legalized states with a presence in 13 countries. Akerna provides a different approach for cannabis investors by using data and technology as its products. Services include seed-to-sale technology which allows regulators and government agencies to track cannabis products from cultivation to its final sale. Akerna’s second product is its use of “big data” which allows cannabis companies a better understanding of the market, operational expenses, and production to improve profit margins.
About Akerna Corp.
Akerna Corp. (NASDAQ: KERN, KERNW) (“Akerna”) is a regulatory compliance technology company in the cannabis space. The cornerstones of Akerna’s service offerings are MJ Platform® and Leaf Data Systems®, which are highly-versatile platforms that provide clients and government entities with a central data management system for tracking regulated cannabis products—from seed to product to shelf to customer—through the complete supply chain. Since its establishment in 2010, the Company has tracked more than $15 billion in cannabis sales. As part of its business strategy, Akerna intends to grow through targeted, strategic acquisitions that are complementary to its current business and organically by accelerating its product development efforts. Akerna is based in Denver.
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