MassRoots Inc (OTCMKTS:MSRT) On The Ropes
[[tagnumber 0]][[tagnumber 1]]This year has been a rollercoaster for MassRoots Inc (OTCMKTS:MSRT) so far. The ticker started off rather badly, but managed to recover and go above and beyond the $1 per share mark in the last couple of months.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This was a result of optimistic press releases coming from [[tagnumber 6]]MSRT[[tagnumber 7]] and it was a good thing that no pumpers were involved. Still, the company has reached heights that are barely sustainable. Its market cap is more than $50 million, while the annual report for the fiscal 2015 contained the following numbers of prime interest.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: $386 thousand[[tagnumber 13]] [[tagnumber 12]]current liabilities: $194 thousand[[tagnumber 13]] [[tagnumber 12]]annual revenues: $213 thousand[[tagnumber 13]] [[tagnumber 12]]annual net loss: $8.4 million[[tagnumber 13]] [[tagnumber 20]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Those numbers certainly don’t look like they can back the market cap that [[tagnumber 6]]MSRT[[tagnumber 7]] currently boasts. That, however, didn’t stock the ticker from making an upward run even after they were posted in the end of last month.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]We saw [[tagnumber 6]]MSRT[[tagnumber 7]] climb as high as $1.60 on April 11, but the ticker became hesitant. Everyone thought that April 20 would be a great day for pot stocks it didn’t turn out exactly like that for [[tagnumber 6]]MSRT.[[tagnumber 7]] The ticker lost 11.51% of value yesterday and closed at $1.23, while a total of 486 thousand traded shares generated $627 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Today’s session is going even worse with [[tagnumber 6]]MSRT[[tagnumber 7]] dropping as low as $0.75 per share in early trading. The company stock is 17.07% in the red as of the writing of this article and it appears that it will close an even worse session than yesterday’s.[[tagnumber 2]]
