Instagram is an insanely popular social media app that got bought out for $1 billion buyout just 18 months after it was launched. The ability to share an image that communicates what and where we are doing it allows the social creatures that we humans are to feed of each other in such a way which converts admiration into a trend that its presence has completely transformed society. If you’re a pot smoker in one of the legalized states who wanted to share what weed you just scored or show off your bitchin new bong in use, be thankful for MassRoots Inc. (OTCQB: MSRT) whose semi-anonymous social network for cannabis lovers worldwide has not only become a big hit with users, but whose penny stock, MSRT stock, has also begun making some serious new followers.
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Formed in April 2013 as a social network for the cannabis community, MassRoots launched in the App Store two months later and has since grown into a community of 500,000 cannabis consumers and gained nationwide notoriety. Featured n numerous financial due to the Company’s increasing popularity as one of the first national cannabis brands and word of mouth virility from their users, the push to legalize marijuana in every state which has it on their ballot in 2016 is a ticking time bomb for expansion, increased awareness and, eventually, significant revenues.
MassRoots was initially launched as a free online portal which caught on quick within the cannabis community. With over 1,000 businesses, including 42% of the dispensaries in Colorado, utilizing MassRoots for Business as of June 30, 2015, the corner was turned last month on expanding the app’s functionality to allow businesses to extend the reach of their posts; a move which should burst open the doors for the Company monetizing their network.
Smart moves have been a key factor for the Company which could summarized by Tony Montana’s quote in the 80’s movie Scarface: “In this country, first you get the money, then you get the power,THEN you get the woman.” In regards to how this fits in with MassRoots’ business: “In the marijuana community, first you get the followers, then you get the businesses, THEN you get the money.”
In July, the Company filed their 10Q for the three and six months ended June 0 2015. Within it, one can see that revenues grew to $2,126 for the three months ended compared to $744 for the same period in 2014, and six month top line numbers grew to $3,066 versus $1,739 for the same six month period in 2014. Sure, the numbers are small, but the move to capture more has just only recently been introduced.
On August 26, MassRoots announced that it crossed a half million users on its platform and that, in just the first 10 days of aggressively monetizing its digital properties, they had already generated more than $25,000 in revenue. The news was well received by investors as MSRT shares traded nearly $50,000 more, 56,300 shares vs. 3,300, than the previous session. Since then, shares of MSRT stock have gained more than 59% during one of the slowest periods of the year on the OTC.
The real catalyst last week which sent MSRT stock to as high as $1.72 with dollar volume of $442,874, its highest since the week of “420” when shares hit $7.01, was the Monday announcement that MassRoots filed an application to become one of the first cannabis technology companies listed on the NASDAQ Capital Market. Not being one of the bullsh!t penny stocks that has to touch physically the plant in order to make a buck, co-founders Isaac Dietrich and Tyler Knight have really revolutionized how traders view pot stocks and could see their efforts heading into the 2016 election pay huge dividends. Noting that a NASDAQ stock has certain compliance regulations to abide by, the next 12-18 months will be worth keeping a close eye on as the day could arrive where “connecting and empowering the cannabis community” becomes a buyout target.
Find out more about MSRT shares here: $MSRT
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