MassRoots, Inc. (MSRT) reported a major milestone for the company after it reported to have more than one million registered users on its platform.

The last few months have been extremely significant for MassRoots and the company is in a better position than ever before. From its balance sheet to its management team, MassRoots has made several changes that have proven to be very impactful and we think this is a stock to watch.

Corporate Update Re-Affirms Positive Outlook

In mid-February, MassRoots released a corporate update that left us even more favorable on the company’s long-term outlook.

In the update, the company reported to have raised over $2.9 million through warrant exercises so far in 2017. At the time of this update, MassRoots said that its cash position was the strongest it has ever been.

The update also highlighted the = recently completed acquisition of DDDigtal, which does business as Whaxy, an online order-ahead and menu management platform. Since launching in May 2016, Whaxy's online ordering platform has processed over $7 million in volume across 60,000 unique transactions.

Catalysts to User Growth

Concurrent with today’s announcement, MassRoots Chief Executive Officer Isaac Dietrich announced plans to release a revamped website in the coming days. The company also plans to release a suite of updates to its mobile app that will significantly enhance user experience.

Last year, Google removed the MassRoots app from Google Play and this served as a headwind for user growth. The company expects its app to be re-listed in Google Play soon and this should be a catalyst for user growth. The MassRoots app is listed in Apple iOS which has stricter guidelines when compared to Google Play.  

In the previously issued corporate update, MassRoots reported to have seen an 18% spike in traffic after Tom Angell became the company’s Senior Political Correspondent in early February. We expect to see continued growth into and through the 4/20 holiday.

Outlook is Bright... click here to view the entire article