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Wednesday, August 17, 2022

The Amazing Rise of Leafbuyer Technologies Inc (OTCMKTS:LBUY)

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Leafbuyer Technologies Inc (OTCMKTS:LBUY) has emerged as a red hot play on the OTC over the past several weeks. A big driver here is LBUYS’s recent announcement of the launch of its mobile app, complementing its popular, responsive-design website. Loyal Leafbuyer patrons can now use the deal-finding service on the platform that best fits their technology preferences and lifestyle.

According to the release, “Leafbuyer, the leading cannabis deals network, drives business to dispensaries and product clients and serves as an information portal for cannabis consumers. The new app includes three main sections: a deal-searching tool, a dispensary locator (both with a matching map view), and a strain search engine. One highly anticipated feature of the app, is that users can save or “favorite” individual deals, dispensaries, or strains, giving the user tremendous flexibility. The iOS version is currently available, and the Android version will be available in the Google Play store next week.”

Leafbuyer Technologies Inc (OTCMKTS:LBUY) trumpets itself as a technology-based cannabis marketing company based in Greenwood Village, CO. The company’s website, leafbuyer.com is the most comprehensive online source for cannabis deals and specials,

Leafbuyer.com connects consumers with dispensaries. Leafbuyer works alongside businesses to showcase their unique products and build a network of loyal patrons. Leafbuyer’s national network of cannabis deals and information reaches millions of consumers monthly.

Leafbuyer is the official cannabis deals platform of thecannabist.co (owned by the Denver Post) and westword.com. The company also operates one of the largest cannabis-based employment boards in the industry and has partnered with large cannabis content sites that are included in their distribution network.

According to company materials, “The most comprehensive online source for cannabis deals and specials, Leafbuyer.com connects consumers with dispensaries. Leafbuyer works alongside businesses to showcase their unique products and build a network of loyal patrons. Leafbuyer’s national network of cannabis deals and information reaches millions of consumers monthly. Leafbuyer is the official marijuana deals platform of thecannabist.co (owned by the Denver Post) and westword.com.”

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As noted above, LBUY has been on fire of late. There is perhaps a whiff of promotional activity to the chart pattern in that time (check out the 15 minute candle chart… looks a bit overly regular in terms of the action, which is a bit of a red flag). However, we can’t confirm that. And we can confirm that the company did just launch an app in the cannabis patch, which may well be enough of a catalyst to get a stock like this off to the races, as echoed by management.

“Launching our app was yet another milestone in providing consumers with multiple ways to find deals and cannabis information, plus staying connected with their favorite shops,” said Mark Breen, Vice President of Business Development. He added that “We are continually adding new features to our platform and evolving with the industry as it grows. We are currently working on version 2.0 which will coincide with the relaunch of the site in early 2018.”

“While the Leafbuyer.com website is already heavily optimized for mobile traffic, we wanted to provide an alternate, streamlined tool for users seeking location and strain information with the ability to save their favorites. We are very excited to add this tool that will showcase the power of our growing national network of cannabis dispensaries and product companies,” said Kurt Rossner, CEO for Leafbuyer.

We’ve witnessed 58% during the past month in terms of shareholder gains in the company. Market participants may want to pay attention to this stock. LBUY is a stock whose past is littered with sudden rips. Furthermore, the stock has witnessed a pop in interest, as transaction volume levels have recently pushed nearly 530% above its longer run average levels.

Currently trading at a market capitalization of $63.5M, LBUY has virtually no cash on the books, which compares with virtually no total current liabilities. LBUY is pulling in trailing 12-month revenues of $3K. However, the company is seeing declines on the top line on a quarterly y/y basis, with revenues falling at -100%. You can bet we will update this one again as new information comes into view. For continuing coverage on shares of $LBUY stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $LBUY, either long or short, and we have not been compensated for this article.

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