MassRoots Goes Nasdaq
Quite a while back, we wrote an article detailing a relatively new social media platform: Massroots. Well, this then-fledgling network has gone from strength to strength and is now one of the biggest stoner communities on the planet. It has become so popular, the company has now been submitted for Nasdaq status, which would allow its stocks to be bought and sold on the American stock exchange.
WHAT IS MASSROOTS?
For those who haven’t tried it out yet, Massroots is a place where stoners and dispensaries can come together, to build relationships, meet new people, and share experiences. It operates in a similar fashion to Instagram, and has been so popular, it has already grown to 500,000 users – a figure Massroots didn’t expect to reach until the end of the year.
BRINGING CANNABIS TO THE STOCK MARKETS
It is hoped that by becoming listed on Nasdaq, Massroots will be able to draw a lot more investment to help the platform grow further. It would also further legitimise the burgeoning cannabis industry that is now developing in the US.
However, there is still quite a way to go for Massroots, as attaining Nasdaq status is not easy. For example, Massroots must raise its share value to $3 before it will be considered, and it is currently sitting at $1.38. There are also other requirements to meet, but even they may not be enough, as they could be denied for simply being cannabis-based - if the assessors deem it within the public interest, or a security risk to investors.
Despite not meeting the requirements yet, it may not be long before they do. As we said, the company is growing rapidly. They have recently started displaying cannabis-based advertising on their network – something that cannot be done on Facebook and other social media networks – making it extremely attractive to marijuana businesses. They have only been displaying adverts for a couple of weeks, and already they have made in excess of $25,000 in advertising fees.
If you haven’t tried it, we highly recommend giving Massroots a look. They are certainly a company to watch in the age of cannabis legalisation.