One stock on the OTC that just saw a massive breakout to close out the action for last week is Leafbuyer Technologies Inc (OTCMKTS:LBUY). Shares blasted off on Thursday and Friday for gains of as much as 70% over the two-day stretch. Helping to fuel this action, the company announced that its quarterly sales rose 68% in the quarter ending December 31, 2018. According to the release, the increase reflects the revenue booked in the quarter versus the same quarter of the previous year.
“This announcement of record-setting growth follows the Company’s major industry moves, including the launch of both the Leafbuyer Wallet and Leafbuyer Loyalty, as well as the acquisition of California-based, order-ahead application Greenlight in the last quarter,” said Mark Breen, COO of Leafbuyer. “Our cannabis dispensary and product customers see the exceptional value in the services we offer, and we will continue to diversify our platforms to more thoroughly serve their needs.”
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 one of 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.
Leafbuyers 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, “Leafbuyer.com is one of the most comprehensive online sources for cannabis deals and information. 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 every month. Leafbuyer is the official cannabis deals platform of Dope Media, LA Weekly, and Voice Media Group.”
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As noted above, LBUY just announced that its quarterly sales rose 68% in the quarter ending December 31, 2018.
Recent action has seen 55% during the past month in terms of shareholder gains in the listing. Moreover, the name has seen a growing influx of trading interest, with the stock’s recent average trading volume running just shy of 180% beyond what we have been seeing over the larger time frame. This should not be overlooked given the stock’s limited trading float of around 19M shares.
“Our national footprint continues to widen as we promote our services in all legal markets across the United States and Canada,” said Kurt Rossner, CEO of Leafbuyer. “Our revenue grows as the time-saving and valuable benefits we implement continue to evolve and our sales and marketing resources expand.”
Currently trading at a market capitalization of $51.81M, LBUY has a reserve ($183K) of cash on the books, which must be weighed relative to about $1.7M in total current liabilities. One should also note that debt has been growing over recent quarters. LBUY is pulling in trailing 12-month revenues of $1.3M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 67.4%. You can bet we will update this one again as new information comes into view. Sign-up for continuing coverage on shares of $LBUY 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 $LBUY, either long or short, and we have not been compensated for this article.