- Grove Inc (NASDAQ:GRVI) has taken formal steps to change its name to Upexi Inc.
- Its wholly-owned subsidiaries will be called Upexi Holdings LLC and Upexi Enterprises LLC.
- Grove, which started as a scaling hemp company, has expanded beyond the CBD (cannabinoid) industry and focuses on larger market opportunities in consumer brands, SaaS programmatic advertising technology, and direct-to-consumer markets.
- "The Direct-to-Consumer market will remain a key initiative as we believe consumer behavior has been changed forever and that profits and value will continue to be in this vertical," said CEO Allan Marshall.
- Price Action: GRVI shares are trading higher by 1.02% at $5.96 on the last check Wednesday.
