Leafbuyer Technologies Inc (OTCMKTS:LBUY) has been truly one of the most interesting and most exciting names to emerge on the OTC over the past three months, ramping from around the $1/share level to a high of nearly $4/share in late August. The stock has been pulling back a bit over the past few weeks, but has, by any reasonable account, held onto the lion’s share of its gains in that time. This is a marketing name we are talking about here. And that’s one area we suggested may become a new hot zone of the cannabis patch once we entered the “separate the wheat from the chaff” stage of the new industry boom. As a case in point, the company just announced an expanded partnership with Voice Media Group, one of the nation’s largest diversified media organizations.
According to the release, “this expanded partnership broadens the advertising relationship first established between Leafbuyer and Voice Media Group in Q4 of 2016. Together, the two companies installed a customized application on the marijuana section of Westword.com, helping visitors discover Leafbuyer deals on their favorite cannabis-related products. “Our clients immediately praised the influx of new business, and we are building off that success as we expand into other legal markets,” said Leafbuyer’s VP of Business Development, Mark Breen.”
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,
LBUY 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.
LBUY 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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According to the company, expanding the partnership nationwide was a natural fit given the rapid legalization of marijuana across the nation and Leafbuyer’s transition into a public company.
Kurt Rossner, CEO of Leafbuyer, stated, “We believe the added distribution footprint will greatly enhance our ability to attract new customers in areas outside of Colorado. This is a very important step as we continue to push forward for a truly national base of consumers.”
The company reportedly anticipates that the online tool will reach over one million pageviews per month.
“We had partnered with Leafbuyer for our Westword Magazine in Denver six months ago. It was an easy decision to include them in all markets on our Marijuana related sections. The Cannabis industry is one of the fastest growing industries to date and our partnership with Leafbuyer has provided valuable content for our users,” said Scott Tobias, CEO of Voice Media Group.
We’ve witnessed 3% tacked on to share pricing for the company in the past month. Market participants may want to pay attention to this stock. LBUY has evidenced sudden upward volatility on many prior occasions. What’s more, the name has witnessed a pop in interest, as transaction volume levels have recently pushed 14% over what the stock has registered over the longer term.
This is particularly important given the stock’s relatively small trading float of not even 12M shares. One is wise to respect the dynamic this may create — a restricted trading float and a jump in trading volume can crimp supply and push share prices higher.
Currently trading at a market capitalization of $105.2M, LBUY has a reserve ($224K) of cash on the books, which is balanced by virtually no total current liabilities. LBUY is pulling in trailing 12-month revenues of $232K. In addition, the company is seeing major top line growth, with y/y quarterly revenues growing at 7616.8%. 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 $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.