MassRoots Inc (OTCMKTS:MSRT) is showing signs of rising from the dead after feeling the full force of short sellers in 2018. The stock has lost more than 80% in market value over the past year and in dire need of new catalysts to avert a further slide.
MassRoots Price Analysis
Amidst the underperformance of 2018, the company has started the year on a roll, signaling a potential turnaround in prospects and performance. The company has already signed a retail agreement with New Age Brands as it continues to explore new sales opportunities. Its rewards program WeedPass is also doing well signaling an impressive year on the revenue generation front.MassRoots has also moved to strengthen its operations in the regulated cannabis dispensaries sector further affirming its expansion plans. Amidst the developments, the stock continues to languish at all-time lows, investor sentiments in the stock having hit all-time lows.However, a high turnover in traded shares in recent past continues to fuel suggestions of a potential change in the direction of trade. MassRoots has emerged as a potential breakout play on improving underlying fundamentals. MSRT Daily ChartWhile the stock has bounced back from the all-time lows, it still faces an uphill task to turn bullish. For the stock to turn bullish in the short term, it will have to rally and stabilize above the $0.10 mark. Above the crucial resistance level, the stock should be on its way to the $0.16 mark, the next substantial resistance level.Considering the long-term bear trend, the stock remains susceptible to further drops in continuation of the long-term bear trend, below the $0.10 mark
About MassRoots
MassRoots is a cannabis-focused company that operates a technology platform for sharing content in the burgeoning sector. In the platform, people can follow their favorite dispensaries as well as remain connected to the legalization drive. The company is also engaged in the distribution and sale of cannabis Products.
New Age Brands Deal
MassRoots is a potential breakout stock on investors taking note of the improving fundamentals. For starters, the company has signed a retail agreement with New Age Brands to be its leading online retailer for its bestselling CBD Pen through its e-commerce platform.The Vaporizer pen will be the first to be sold through MassRoots e-commerce platform as well as through its social media pages. The company is planning to leverage its over 1 million social media followers and a mailing list of over 750,000 people as part of the marketing campaign.
"We believe that the market for CBD products will continue to escalate in the near future and our ability to partner with a recognized leader in the industry, such as We Are Kured, will provide a strong strategic advantage. MassRoots anticipates that our vast user base will provide a strong customer base for their top-rated CBD products,” said Mr. Isaac Dietrich, MassRoots' Chief Executive Officer.
In addition to entering the retail business, MassRoots is also growing its rewards program WeedPass in a bid to strengthen revenue streams. The company uses the rewards program to reward consumers with tickets to movies as well as festivals and sporting events for shopping at participating cannabis dispensaries.Over 140 dispensary locations have already added support for the WeedPass rewards system, helping MassRoots diverse the rewards offered as well as the market in which it is available.
"Management is extremely pleased with the rapid adoption and expansion of our newly implemented Weed Pass™ rewards system. The Company has made noteworthy progress in expanding its client-base of dispensaries and increasing its overall monthly revenue,” said Mr. Dietrich.
In addition, MassRoots is working round the clock to become a leading information portal for millions of consumers interested in CBD products. The company is in the process of launching a CBD product focused review and an e-commerce platform.
Bottom Line
MassRoots has registered a phenomenal run since the start of the year, after underperforming for the better part of 2018. The stock has started showing signs of bottoming out from all-time lows as a string of positive developments continues to position the stock as an attractive investment.The company has served a number of groundbreaking catalysts that continue to strengthen investor confidence. For the stock to continue rising from the dead, management must continue sharing updates affirming long-term prospects.We will be updating our subscribers as soon as we know more. For the latest updates MSRT, sign up below!Disclosure: We have no position in MSRT and have not been compensated for this article. We have been previously compensated ten thousand USD by a non-affiliated third party, sunrise media, LLC for a 2-day awareness program regarding MSRT. Prior to this, we were compensated twenty thousand USD for a two-day awareness campaign, which has expired.
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