Wednesday, June 29, 2022

Cannabis Stock Spotlight on MassRoots Inc (OTCMKTS:MSRT)

MassRoots Inc (OTCMKTS:MSRT) is one of the more interesting ways to play the MJ revolution in North America. The company is a digital platform for the cannabis community. This is particularly interesting precisely because the path to legalization is a true movement. And every movement is fueled by shared cultural “space”. In today’s world, that’s clearly going to be a digital space. MSRT has been very active in grabbing the reigns of that process of late, with several key catalysts in focus.

For example, the company just announced that it will be releasing a revamped website within the next few weeks in anticipation of increasing traffic ahead of 4/20. “The revamped website will focus on driving MassRoots’ hundreds of thousands of monthly web visitors into paying customers at local dispensaries.” In addition, MSRT recently gave word that it has recruited Mr. Tom Angell to serve as the company’s Senior Political Correspondent. Mr. Angell has worked on the front lines of cannabis policy reform efforts for more than 15 years, including as chairman of Marijuana Majority, a leading non-profit organization he founded in 2012. But, perhaps most importantly, the company just announced a special conference call update on company affairs. They don’t do this every quarter. So this may suggest they have good news to relate.

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 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 has scheduled a conference call for this coming week. In our experience, with micro-cap companies, where there is neither a historical pattern or standard expectation or obligation to hold a quarterly conference call, it is almost a sign of good news to come when such companies come out and issue a press release to announce to the world that they are holding a call.

After all, why let the world know when and where to show up and hear about how things are going if you are then going to stand up and tell an uncompelling narrative?

MassRoots is in a position to excel, as we have noted. But they have a difficult balance sheet situation to deal with. That said, the top line has been extremely strong. If we are to guess, we would bet that growth is continuing, and may get word on Monday that such is the case. In any event, the new website is a catalyst given that the digital face of the company is itself the core of the product.

Recent action has seen shares of the stock clipped for about -6% over the past month. That said, MSRT stock is up over 150% since October, and has made a career out of sudden rips, so it may pay to keep it close on the radar. This is especially true given the increased attention getting paid to the name right now in the form of an influx of trading volume (average trading volume running 13% above the longer-run average levels).

It’s doubly important to take note of the increased attention here given the stock’s tight trading float of just a tad more than 27M shares. Traders should not overlook this combination, as a mechanically driven price squeeze can result from this type of mix of small float and ramping attention from traders.

At this time, carrying a capital value in the market of $63.5M, MassRoots 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%. We will update the story again soon as further details emerge. 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!

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