The cannabis social networking app MassRoots has applied to be listed on the NASDAQ Capital Market. If accepted, the Denver-based company would be the first cannabis technology firm on the exchange.
Founded in 2013, MassRoots connects cannabis consumers to other consumers and local dispensaries via its mobile app.
“Uplisting to the NASDAQ Capital Market would be a significant milestone not just for MassRoots, but the cannabis industry as a whole,” said Isaac Dietrich, chief executive of MassRoots, in a statement.
“For a company to be listed on the NASDAQ Capital Market index, it must have 1 million publicly held shares, at least 300 round lot shareholders and have a minimum bid or closing price of $2, among other requirements.”