Leafbuyer Technologies, Inc. (OTC Pink: LBUY) is engaged as a cannabis technology platform. Shares of the cannabis technology company are increasing today by 11.72%. Over the past month, the company has seen average daily volume of 247,165 shares. However, volume of 169,091 shares or dollar volume of $241,800, has already exchanged hands on the day.
Shares of Leafbuyer Technologies, Inc. are rallying today, after the company announced that it is expanding into new cannabis markets to take advantage of the new recreational cannabis states in 2018. California, Massachusetts, and Maine are the three headliners for 2018, as far as recreational cannabis goes. Here is the full press release detailing of the expansion:
Leafbuyer Technologies, Inc. Press Release:
DENVER–(BUSINESS WIRE)– Leafbuyer Technologies, Inc. (LBUY) (“Leafbuyer”), a leading cannabis technology platform, announced today that growth into West Coast legal cannabis markets are ahead of projections and the company is poised to capitalize on new recreational markets open in 2018.
With recent expansion into Oregon, Washington, California, Nevada, and Arizona, Leafbuyer Technologies Inc. continues to increase market share. “With the 2018 legalization of Recreational Marijuana in California, Massachusetts and Maine, management is building the foundation for Leafbuyer to capitalize on this market expansion,” said VP of Business Development, Mark Breen.
In an article dated October 7th, 2017, CNN reported marijuana is about to get a huge boost as California retail stores will begin opening January 1, 2018. “Based on the size of California alone, we expect to see a market that is potentially five times larger than Colorado’s current market. If this happens it could be an absolute game changer,” Breen added.
Since its public launch in April of this year, Leafbuyer’s customer base has grown 12 percent with Oregon, and California leading the way. Leafbuyer has added close to 40 new locations to their Loyalty/Texting platform that launched in August. “We are pleased with the expansion into the new markets as well as the additional texting service which adds a new form of revenue to the company. Our new, broader platform helps our clients attract and retain new customers,” said CEO Kurt Rossner. Mr. Rossner also said he is extremely optimistic about increased market share in 2018 as expansion and new products continue to add value to Leafbuyer’s customers.
About Leafbuyer Technologies, Inc.:
The company is one of the most comprehensive online sources for cannabis deals and specials, Leafbuyer.com connects consumers with dispensaries. Leafbuyer works alongside businesses to showcase their unique products and build a network of loyal patrons. Leafbuyer’s national network of cannabis deals and information reaches millions of consumers monthly. Leafbuyer is the official marijuana deals platform of thecannabist.co (owned by The Denver Post) and Voice Media Group (Westword, LA Weekly, Phoenix New Times, and Toke of the Town).