Leafbuyer Technologies Inc. (OTCMKTS:LBUY)
Shares of Leafbuyer Technologies Inc. (OTCMKTS:LBUY) were up by 36.23% after the company renewed their partnership with the Denver Post’s Cannabist. Under the terms of the agreement, the company is to remain as the official deal partner for the marijuana news website.
Leafbuyer Technologies Inc. (OTCMKTS:LBUY) will continue to host a ‘Deals Widget’ on every page of the Cannabist website going forward. The widget is designed to assist consumers in searching for the best cannabis deals in their area without leaving the website.
Leafbuyer Technologies Inc. (OTCMKTS:LBUY) continues to move higher on a bullish run that began in May. The stock is currently trading at the high end of its $2.70-3.65 trading range with traders awaiting to see if the momentum is strong enough for a rally to the 52-week high of $10.50 a share.
The company operates an online platform for offering cannabis deals and specials. The platform also allows consumers to connect with dispensaries. Leafbuyer also signs deals designed to expand its market reach to customers.
The company’s chief executive officer Kurt Rossner expects the continued partnership with Cannabist to help the company reach more consumers. The renewed partnership comes on the heels of Leafbuyer Technologies Inc. (OTCMKTS:LBUY) announcing a sales expansion strategy as it seeks to target more customers in the West Coast’s legal cannabis market.
“We believe having the right partnerships with established industry heavyweights will help expand Leaf buyer’s brand nationally. We expect 2018 will be a watershed year in this industry and we are excited to grow with the Cannabist,” said Mr. Rossner.
Leafbuyer Technologies Inc. (OTCMKTS:LBUY) is banking on the Cannabist partnership to further strengthen its footprint in the burgeoning California legal cannabis business. In a bid to increase exposure to out of state consumers and tourists, the Cannabist platform is to be included in the premium subscription for Leafbuyer consumers
Leafbuyer Technologies Inc. (OTCMKTS:LBUY) has already set its eyes on the California recreational marijuana market that is set to open next year. Expansion of the market place is poised to come into play which should allow the company to target customers above the age of 21 years in addition to medical marijuana customers.
Being a fast mover in the California and Colorado recreational marijuana market is important as legal cannabis businesses are poised to explode over the next five years. Gaining a competitive edge will thus be key if Leafbuyer Technologies Inc. (OTCMKTS:LBUY) is to accrue a substantial amount of market share.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.