KERN Stock Alert: Akerna Plans to Merge With Gryphon Digital Mining


  • Akerna (KERN) stock is falling after announcing merger plans.
  • The company intends to combine with Bitcoin (BTC-USD) miner Gryphon Digital Mining.
  • This will see Akerna sell its MJ Freeway and Ample Organics businesses to POSaBIT Systems Corporation (POSAF).
Piles of gold Bitcoin tokens stacked together. KERN Stock.

Source: kitti Suwanekkasit /

Akerna (NASDAQ:KERN) stock is on the move Friday after the company revealed plans to merge with crypto company Gryphon Digital Mining.

This merger agreement includes an all-stock transaction and will also see Akerna change its name to Gryphon Digital Mining once the deal is completed. As a result of the merge, shareholders of KERN stock will become exposed to the Bitcoin (BTC-USD) mining industry.

As part of the agreement, Akerna is selling its software business to POSaBIT Systems Corporation (OTCMKTS:POSAF). The sale will include MJ Freeway — which contains MJ Platform and Leaf Data System brands — as well as Ample Organics. These are systems Akerna used in the cannabis industry.

With this deal, Akerna is exiting the cannabis software industry to become an “ESG-committed, carbon-neutral bitcoin miner.”

KERN Stock Movement on Friday

Investors don’t appear to be reacting well to today’s news as KERN stock sees heavy trading. Nearly 1 million shares of the stock are changing hands as of this writing. For comparison, the company’s daily average trading volume is about 704,000 shares.

KERN stock is down 14.6% as of Friday morning.

Investors seeking out more of the latest stock market news will want to keep reading!

InvestorPlace is home to all of the most recent stock coverage traders need for Friday! Among that is what’s moving shares of Hasbro (NASDAQ:HAS), Freightos (NASDAQ:CRGO) and Quince Therapeutics (NASDAQ:QNCX) stock today. You can read up on all of that news at the links below!

More Friday Stock Market News

On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that’s writers disclose this fact and warn readers of the risks.

Read More:Penny Stocks — How to Profit Without Getting Scammed

On the date of publication, William White did not hold (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 Publishing Guidelines.

Article printed from InvestorPlace Media,

©2024 InvestorPlace Media, LLC