Greenlane Holdings, Inc. (NASDAQ:GNLN) noted its shares improved early Monday, as the company, one of the largest global sellers of premium cannabis accessories, child-resistant packaging, and specialty vaporization products, today announced the launch of the Cara+ portable concentrate device by house brand Groove.
Greenlane launched the Groove brand in Fall 2022 to offer simple, functional, and reliable products at an affordable price point, filling a gap in the marketplace for high-quality, value-driven essential items. The newest product, CARA+, delivers a high-quality solid concentrate device at a value price and further expands Groove's product offerings that include glass, vaporizers and accessories.
Designed for everyday use, Groove products are developed and vetted by industry experts to ensure they meet both quality and competitive price standards. Included in the Groove product line are glass pipes, dab pens, vaporizer batteries, grinders, butane torches, bubblers, and rigs, along with a roadmap of innovative items in the pipeline.
"The addition of Groove to our house of brands has been highly successful since its launch," said CEO Craig Snyder. "Our strategy is to accelerate growth and profitability with a key component of that coming from our innovative product development. We are pleased with the 13 products we have produced from Groove so far and we are optimistic and excited about future launches from Groove to come."
GNLN shares grabbed a penny, or 1.2%, to $1.01.
