Social media has become an integral part of American society. The use of social media has crept into everything from entertainment, sports, and dating, to business, religion, and politics. It is literally everywhere. It was inevitable that the cannabis universe would also use social media as a means to obtain and disseminate information, and to connect with like-minded people and cannabis consumers. However, until cannabis is more universally accepted, it poses a dilemma in the social media sphere in that most cannabis related social media is not deemed acceptable on some of the more popular social media platforms. MassRoots Inc (OTCMKTS: MSRT) seeks to capitalize on this circumstance.MassRoots is one of the largest technology platforms for the regulated cannabis industry. It’s a social media platform is designed to cater to the recreational and medicinal cannabis space. The Company's mobile apps enable consumers to make educated cannabis purchasing decisions through community-driven reviews. Today’s popular social media platforms don’t allow the sharing of images and content related to cannabis – at least not officially. Some images/content may get through, but it’s rare, and it’s certainly not something that can be aggregated and targeted by advertisers. In the future, as cannabis becomes more accepted, there will be tens of thousands of companies trying to sell cannabis related products to millions of cannabis consumers.Recent press releases by MassRoots have made favorable impressions for the company. On March 20, MassRoots announced that it has registered more than one million users on its platform. Through its mobile application, MassRoots enables consumers to rate products and strains based on their efficacy (i.e., working well for back-pain or epilepsy) and then presents this information in easy-to-use formats for consumers to make educated purchasing decisions at their local dispensary.
"MassRoots registering one million users is a significant milestone made possible by the strong support of our shareholders, tireless work of the MassRoots team, and passion of cannabis consumers worldwide," stated MassRoots Chairman and CEO, Mr. Isaac Dietrich. "
On March 22, 2017, MassRoots, Inc. announced that Google Play has approved its mobile application for distribution to Android devices. MassRoots was unavailable on Google Play from early November, 2016 to March 21, 2017 due to a compliance review.
"Re-gaining MassRoots' listing on Google Play is a significant milestone that enables distribution to the millions of medical cannabis consumers that own Android devices," stated MassRoots Chairman and CEO Mr. Isaac Dietrich. "
MSRT stock has been on a upward trend since the beginning of October 2017. It made a strong upward move at the beginning of 2017 topping out at $1.18 before retracing to $.77. It is currently trading at $.87 with significantly increased volume compared to 2016. Fourth quarter financials for 2016 are yet to be reported. The company has recently announce it has retired all convertible debt on its balance sheet. In addition, the company has received over $2.0 million in cash proceeds from the exercise of warrants so far in 2017. This gives MassRoots its strongest cash position in its history. Current market capitalization stands at $71.95 million, on 82.71 million shares outstanding as of March 12, 2017Another advantage that MassRoots can capitalize on is the fact that its operation will not be as adversely affected by possible changes in government policy that are not favorable to the cannabis legalization cause. Businesses that are directly involved in the cultivation, production, marketing, and distribution of cannabis may be more directly affected by such change. Social media however, being that it is not illegal to begin with, should continue to grow. While these types of policy changes may result in temporary setbacks to the cannabis industry, the legalization cause will continue. Eventually all states will legalize cannabis, and MassRoots will be well positioned to capitalize on the social media aspect of the industry.We will be updating our subscribers as soon as we know more. For the latest updates on MSRT, sign up below!Disclosure: We have no position in MSRT and have not been compensated for this article. We have previously been compensated twenty thousand usd for a two day awareness campaign, which has expired.
Discover Hidden Gems
Don't miss the next big opportunity. Subscribe for timely alerts on potential market movers.
