MassRoots Inc (OTCMKTS:MSRT) recently became another prominent OTC crossover play with dual themes working on the investor relations front pairing up the red-hot twins of cannabis and cryptocurrency. We highlighted this one last month as a breakout cannabis just strictly on those lines, and the stock has not disappointed, ripping as much as 280% since late December. That momentum caught new lift last week as investors look ahead to the company’s aggressive schedule of road-show appearances.
Specifically, the company announced last week that it will be attending and presenting at multiple upcoming cannabis industry and blockchain technology conferences. That press release goes on to list a multitude of conferences, including the National Cannabis Industry Association’s Northern California Cannabis Quarterly Caucus, the National Cannabis Industry Association’s Southern California Cannabis Quarterly Caucus, the World Crypto Economic Forum, the North American Bitcoin Conference, the IC3 Institutional Capital & Cannabis Conference, The ArcView Group’s Cannabis Investor Forum, and several others.
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 shareholders are riding a wave of aggressive outreach by management to lock the company into the public zeitgeist in association with both the cannabis and crypto themes, working on the task by a heavy schedule of conference appearances and investor relations activity.
“We look forward to updating investors on MassRoots’ rapid progress in developing blockchain-based solutions for the cannabis industry,” stated MassRoots Chief Executive Officer Mr. Isaac Dietrich. “We have a lot of exciting developments to share with our shareholders that we believe will establish our Company as a dominant player in California and other emerging cannabis markets.”
This type of move can often be a double-edged sword unless the company can produce something more concrete than just a run of publicity and headlines. While hot themes help, a track record that falls in the wake of such a strategy lacking eventual meat on the bone substance to the story can hurt credibility and make matters worse in retrospect. However, at this point, the move is certainly working thus far.
Recent action has seen just shy of 170% tacked on to share pricing for the name in the past month, a bounce that has taken root amid largely bearish action over the larger time frame. Market participants may want to pay attention to this stock. MSRT has a history of dramatic rallies. Moreover, the listing has benefitted from a jump in recent trading volume to the tune of just shy of 370% beyond its prior sustained average level.
Now commanding a market cap of $101.3M, MSRT has a store ($267K) of cash on the books, which must be weighed relative to about $334K in total current liabilities. MSRT is pulling in trailing 12-month revenues of $498K. However, the company is seeing declines on the top-line on a quarterly y/y basis, with revenues falling precipitously in recent periods. This is an exciting story, and we look forward to a follow-up chapter as events transpire. 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.