MassRoots Inc (OTCMKTS:MSRT) Slowly Sliding
tags: MSRT
After a rather decent performance in the second half of the first quarter of the year we saw the stock of MassRoots Inc (OTCMKTS:MSRT) take some serious hits in April and May, losing a hefty amount of the value that it had previously gained.
The stock did attempt to recover and return above the $1 per share mark, but failed to do so on a couple of occasions. This isn’t so surprising, considering the market valuation of MSRT and the numbers of prime interest contained in the company’s report for the first quarter of the year.
- cash: $413 thousand
- current assets: $575 thousand
- current liabilities: $1 million
- quarterly revenues: $93 thousand
- net loss: $2.6 million
Those numbers aren’t very appealing, but there are other reasons for the losses that MSRT suffered. In May the company announced that its application for uplisting to the NASDAQ has been declined, because the company business involved distribution of an “illegal substance under Federal law”.
This, coupled with the relatively big market cap of the company was certainly bad. After the attempts that MSRT has made at recovery we see that it has begun slowly sliding once gain. Last week ended with two sessions in the red. Friday ended with a 5.95% loss and a close at $0.79 per share.
This week has started a bit more stable, but you should still be sure to do your due diligence and weigh out all the risks before putting any money on the line.
