KERN stock continues to move higher after Akerna Corp (NASDAQ:KERN) announced Ashesh Shah as its new Chief Technology Officer.
Key Details
The development and growth of the cannabis industry has led to the emergence of companies that help the sector in functioning smoothly. One such company is Akerna Corp, which is involved in developing cannabis compliance software, which is then used by leading cannabis companies. The company is best known for making consumer engagement and anti-counterfeiting software.
Akerna made a major announcement today with regards to a personnel change. Akerna announced that one of the members of its board, Ashesh Shah, has been appointed as the company’s Chief Technology Officer.
KERN stock is trading higher by 2% at $7.92.
Majority Stake in Solo Sciences
However, that is not all. That company has had an action-packed week so far. On Tuesday, KERN stock was up as much as 26% after the company announced that it has managed to acquire a majority stake in Solo Sciences Inc. Solo is a privately held company and is engaged in the same line of business as Akerna. Solo is one of the major players in consumer engagement and anti-counterfeiting space.
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The move from Akerna is aimed at making its technology even stronger as the cannabis industry continues to grow by leaps and bounds. The tech platform that has been built by Solo is complementary to the software platforms that have been built by Akerna, and hence, the move makes a lot of sense.
The Chief Executive Officer of Akerna, Jessica Billingsley, spoke about the move: “Akerna’s investment in Solo is another step in our commitment to creating the pre-eminent global technology platform, addressing the entire supply chain and its regulatory bodies through accountability and transparency.”
She went on to state that the technology created by Solo is important for Akerna as the company tries to enhance safety and transparency for consumers. As the industry is growing, there is now a heightened need to ensure that customers are protected from unsafe cannabis products sold by unscrupulous entities.
KERN stock is one of the biggest gainers in the cannabis sector over the past two weeks, with a jump of 120%.
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