Akerna (NASDAQ:KERN) stock is heating up on Monday and we’re diving into what has investors in the marijuana company excited today.
It’s worth noting that there’s no news directly from Akerna that explains to KERN stock movement today. Instead, it looks like retail traders are pumping the stock higher in what could be a short-squeeze of the shares.
Backing up that idea is the major trading volume KERN stock is seeing today. That has some 25 million shares changing hands as of this writing. To put that in perspective, the company’s daily average trading volume is about 761,000 shares.
Any traders considering jumping in on the KERN stock rally will want to be careful. The stock’s penny status means its an easy target for pump and dumps that could leave traders holding the bag.
Keeping that in mind, here’s what traders need to know about Akerna.
- Akerna is a cannabis software company established in 2019.
- However, its roots stretch back further than that.
- One of its most important subsidiaries is MJ Freeway, which is a global cannabis software company founded in 2010.
- Akerna has been expanding out its business by acquiring pot companies.
- That includes Trellis, Ample Organics, Last Call Analytics, Viridian Sciences, and others.
- Jessica Billingsley leads Akerna as the company’s chairman and CEO.
- Billingsley has been with Akerna since it was established.
- Prior to that, she served as the CEO of MJ Freeway, which is a company she founded.
KERN stock was up 16.7% as of Monday morning.
Investors can find more of the latest stock market news below!
InvestorPlace has all the most recent stock coverage that traders need to know about today. A few examples include what’s happening with shares of Oatly (NASDAQ:OTLY), Splunk (NASDAQ:SPLK), and Creative Realities (NASDAQ:CREX). You can find out more at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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