MassRoots Inc (OTCMKTS:MSRT) is a micro-cap name that has increasingly become a favorite in the extended cannabis patch of late. The stock has shown strong top line growth and has a nicely carved-out niche in a rapidly expanding space, with exposure to both the US and Canadian markets. We noted in our last update a few weeks ago that the “curve may be shifting” toward expanding growth and interest for this stock.
Management seems excited as well, just putting out a new investor update letter with some interesting highlights, including: Current growth rates show MassRoots is on track to be cash flow positive on a monthly basis starting in early 2017; MassRoots currently has 900,000 users out of an estimated 10 million regular cannabis consumers residing in a state with medical or recreational cannabis laws; Closed a $5 million Registered Offering in October 2016, leaving MassRoots with its strongest cash on hand in its corporate history, and has been bolstered by more than $500,000 in warrant exercises since November 1, 2016.
MassRoots Inc (OTCMKTS:MSRT) trumpets itself as a company that operates a technology platform for the cannabis community in the United States. The company’s mobile network enables users to share cannabis content to connect with the legalization movement. Its network is accessible as a free mobile application through the iOS App Store and the Google Play marketplace and as a Website at massroots.com.
The company also operates MassRoots.com/shop, an e-commerce platform that allows visitors to order MassRoots Inc T-shirts, jars, and stickers; and MassRoots for Business, a free online portal for dispensaries to schedule posts, view analytics, and gain insights into followers. MassRoots, Inc. was founded in 2013 and is headquartered in Denver, Colorado.
MSRT is one of the largest and most active technology platforms for cannabis consumers, businesses, and activists with over 900,000 registered users.
According to company materials, “MassRoots is one of the largest technology platforms for the regulated cannabis industry. The company’s mobile apps enables consumers to provide community-driven reviews of cannabis strains and products, enabling consumers to make educated cannabis purchasing decisions. MassRoots is proud to be affiliated with the leading businesses and organizations in the cannabis industry, including the ArcView Group and National Cannabis Industry Association.”
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“Management is extremely pleased with the recent achievements and growth trajectory that MassRoots is currently experiencing,” stated Mr. Isaac Dietrich, Founder and CEO of MassRoots, Inc. “We believe that now is a perfect time to proactively communicate our strategic business model with the investment community. We are in the midst of an exciting stage in the industry; new regulations and studies have made cannabis more widely accepted than ever before. MassRoots is confident that it is ideally positioned to leverage the numerous opportunities within the rapidly expanding legal cannabis market. Going forward, we are committed to adding users and features to our best-in-class technology platform while remaining focused on our primary goal of improving shareholder value.”
Traders will note 39% tacked on to share pricing for the stock in the past month. Market participants may want to pay attention to this stock. MSRT has a history of dramatic rallies. What’s more, the company has registered increased average transaction volume recently, with the past month seeing 32% above the average volume levels in play in this stock over the longer term.
It pays to take note of this fact with a float in play that’s relatively small — about 27M shares. As savvy traders are well aware, a restricted trading float and a jump in trading volume can crimp supply and push share prices higher. Recent action has seen a push of more than 20% since our late December update on the company.
At this time, carrying a capital value in the market of $72.7, MSRT has a bankroll ($127K) of cash on the books, which stands against about $768K in total current liabilities. MSRT is pulling in trailing 12-month revenues of $945K. In addition, the company is seeing major top line growth, with y/y quarterly revenues growing at 243%. This is an exciting story, and we look forward to a follow-up chapter as events transpire. For continuing coverage on shares of $MSRT stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!