Akerna Corp. (KERN - Get Rating) is a unique cannabis company that doesn’t get a lot of attention but it should. 

KERN consolidates cannabis technology companies to connect data points in the global cannabis supply chain. By connecting data points Akerna creates one of the world’s most transparent and accountable consumer packaged goods supply chains with  global scale. 

The company believes that by connecting data and information will modernize and propel the cannabis industry, increasing the power of businesses, governments, patients, and consumers to make smart decisions.

Recently it was announced that KERN will be joining the small-cap Russell 2000 Index and the broad-market Russell 3000 Index. This will take effect after the U.S. stock market opens on Monday, June 29, 2020. This data was provided via a list of preliminary additions posted on June 5, 2020.

John Fowle, Chief Financial Officer at KERN said, “Inclusion in the Russell Indexes is an important milestone and will increase the overall awareness and exposure of our stock within the investment community. The listing reflects the direction Akerna is headed as we continue to grow our business and fortify our position as the only scaled technology provider serving the cannabis industry in the region.”

On top of this exciting news the company also announced that it has closed a $17 million debt financing with two institutional investors. The capital from the financing will be used to support KERN’s ongoing growth initiatives, continued investment in technology infrastructure and general corporate purposes.

Jessica Billingsley Chief Executive Officer said,“This financing further strengthens our balance sheet and gives us the ability to capitalize on the significant opportunities that are emerging for Akerna on the heels of the COVID-19 epidemic. We are seeing more states pursue accelerated cannabis legalization as a means to close budget gaps, as the industry is proving to be recession resilient and, in many states, has been deemed an essential industry. With this financing, we are taking advantage of our unique access to the capital markets to fortify our position as the only scaled technology provider serving the cannabis industry.”

As you can see, this is an exciting week for KERN and as a result, shares of KERN have rallied 16% this week.  Investors should keep KERN on their radar as it looks to be headed in the right direction.

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KERN shares . Year-to-date, KERN has gained 28.11%, versus a -0.31% rise in the benchmark S&P 500 index during the same period.

About the Author: Aaron Missere

Aaron is an experienced investor who is also the CEO of Departures Capital. His primary focus is on the cannabis industry. He also hosts a weekly show on YouTube about marijuana stocks. Learn more about Aaron’s background, along with links to his most recent articles. More...

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