There have been many interesting ways various companies have employed to profit from the cannabis boom, but MassRoots Inc (OTCMKTS:MSRT) offers an example of one of the more promising, if not in this version, then in its form. The company just announced that its recently launched rewards program for cannabis consumers, WeedPass, has on-boarded more than 100 participating dispensaries. According to the release, WeedPass customers have already earned more than 1,250 tickets for festivals and events, such as Queen Mary’s Dark Harbor, driving more than $120,000 in sales to participating dispensaries.
That’s decent traction and should be noted. But we wish to make the larger point: there will come a time when the massive investment flows into the production of cannabis will work to found a glut in this commodity, and sink its bulk pricing. However, lower prices will do nothing to stem demand. Hence, companies able to profit from the boom outside of production may have a major day in the sun, so to speak.
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.
MSRT 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, MSRT just announced that its recently launched rewards program for cannabis consumers, WeedPass, has on-boarded more than 100 participating dispensaries. In all, recent action has seen 14% added to share values of the listing over the past week of action.
Moreover, the stock has seen a growing influx of trading interest, with the stock’s recent average trading volume running 97% above the average volume levels in play in this stock over the longer term.
“Next Tuesday, we believe voters in four additional states could vote to regulate the sale of cannabis for medical or adult-use purposes, further expanding our addressable market,” stated Mr. Isaac Dietrich, MassRoots’ Chief Executive Officer. “We believe WeedPass’ unique structure possesses the ability to drive significant sales to the thousands of dispensaries across the United States by offering compelling rewards for mainstream cannabis consumers.”
Now commanding a market cap of $20.38M, MSRT has virtually no cash on the books, which must be weighed relative to about $4.1M in total current liabilities. MSRT is pulling in trailing 12-month revenues of $45K. However, the company is seeing declines on the top-line on a quarterly y/y basis, with revenues falling at -98.4%. This may be a very interesting story and we will look forward to updating it again soon. Sign-up for continuing coverage on shares of $MSRT stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $MSRT, either long or short, and we have not been compensated for this article.