MassRoots Inc (OTCMKTS:MSRT) has been correcting along with the cannabis patch in recent trade. The company hit the wires this week with a new announcement that has yet to impact that dynamic, but should be appreciated as we continue to get perspective on this story. The company announced that it is partnering to “aggregate data collected throughout the cannabis supply chain to provide reports and analysis to cannabis businesses.”
“Over the past year, we have worked diligently to develop the functionality to allow cannabis consumers to review the products they purchase in dispensaries. By comparing this information with the millions of data points collected by the Grownetics system, both companies could be able to provide invaluable information at the strain level to our business clients,” stated MassRoots Chief Executive Officer Isaac Dietrich. “We believe this analysis will be some of the most comprehensive and innovative reporting ever offered about specific strains and products in the cannabis industry.”
MassRoots Inc (OTCMKTS:MSRT) 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 1M registered users.
According to company materials, “MassRoots is one of the largest technology platforms for the regulated cannabis industry. The company’s mobile apps enable 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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As noted above, the company partnered with a company called Grownetics to aggregate data collected throughout the cannabis supply chain to provide reports and analysis to cannabis businesses.
“We’re extremely excited about this partnership with MassRoots. Until this point, our team has strived to developed the most effective and innovative cultivation system on the market,” added Eli Duffy, Grownetics CEO. “Partnering with MassRoots will allow us to leverage their connections and expertise to scale our technology and become the most dominant cultivation technology company in the cannabis industry.”
MassRoots announced in January that it closed an acquisition of DDDigital, Inc. d.b.a. “Whaxy,” a menu management and online ordering system for medical and adult-use dispensaries. By correlating the data collected by this system with the data collected by MassRoots’ social platform and by Grownetics, there is significant potential for meaningful analysis.
“Grownetics’ value proposition to cannabis cultivation facilities is clear — it allows them to increase yields with less resources,” continued Dietrich. “We believe the partnership creates a value-add to our offerings to businesses.”
Traders will note about -4% stripped out of share pricing for the name in the past week as sellers continue to control the tape, but this action is running counter to the larger trend in the stock that we have witnessed since its lows last Fall.
Market participants may want to pay attention to this stock. MSRT has a track record that includes a number of dramatic bounces. What’s more, the listing has witnessed a pop in interest, as transaction volume levels have recently pushed 21% beyond what we have been seeing over the larger time frame.
Now commanding a market cap of $57.8M, MSRT has a stash ($127K) of cash on the books, which is balanced by 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 243.1%. You can bet we will update this one again as new information comes into view. 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!
Disclosure: We have no position in MSRT and have not been compensated for this article. We have previously been compensated ten thousand usd for a two day awareness campaign, which has expired.