Leafbuyer Technologies Inc (OTCMKTS: LBUY) is having an incredibly strong day in the market today, following up on the strong gains that we saw in the value of the stock yesterday. The gains are ultimately the result of news surrounding the company’s implementation of blockchain technology. Today, we’ll talk about the news that was released surrounding the blockchain, what we’re seeing from the stock, and what we’ll be watching for with regard to LBUY ahead.
LBUY Continues Upward On Blockchain News
As mentioned above, Leafbuyer is having an incredibly strong day in the market today, following up on gains yesterday as the result of blockchain news. In a press release issued early this morning, the company announced that it has entered into the second phase of its advanced large-scale platform based on blockchain technology.
In the release, LBUY said that it is working with select specialists, Wunderkind Technologies to move forward with this phase. The phase is designed around the reliable verification of transactions with dispensaries. Through the use of the blockchain, the company will be able to accurately verify referrals, customer traffic, point-of-purchase, pricing and more in rel time. In a statement, Kurt Rossner, CEO at LBUY, had the following to offer:
We are moving forward with our strategic implementation of blockchain, which, in the long term, should provide us with top-tier security and highly transparent data we can present to our clients. The power of the technology is analytics, big data and real time data that is instantaneously secured, time stamped and verified. It is this level of data that the ancillary business of the future must process to prove to client dispensaries the origin, conversion and retention of customers.
What We’re Seeing From The Stock
After seeing strong gains in value yesterday on the news, Leafbuyer is continuing upward as investors continue to see value here. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (9:30), LBUY is trading at $1.59 per share after a gain of $0.06 per share or 3.92% thus far today.
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What We’ll be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on LBUY. In particular, we’re interested in following the story surrounding the company’s move to the blockchain as there is a clear need for this type of technology in the cannabis space. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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