Leafbuyer Technologies Inc (OTCMKTS:LBUY) Stock In Focus After Record Sales Month

October 11, 2022October 11, 2022 Pete Matthews $LBUY, $LBUY news, $LBUY stock, $Leafbuyer Technologies Inc (OTCMKTS:LBUY), $OTCMKTS:LBUY

The cannabis space has gained traction in recent days owing to the latest comments from United States President Joe Biden regarding the sector. One of the companies which could be worth looking into at this point in time is Leafbuyer Technologies Inc (OTCMKTS:LBUY), which was in the news yesterday following a key announcement.

Trading Data

On Monday, LBUY stock gained 0.26% to $0.0381 with more than 105.56K shares, compared to volume of 58.07K shares. The stock moved within a range of $0.0381 – 0.0420 after opening trade at $0.0400.

Leafbuyer Technologies, Inc. Announces Record Sales Month

The company announced yesterday that in the month ended September 30, 2022, its cash sales went up by as much as 59.5% on a year on year basis. That was a significant new announcement from the company and one that may well be a source of optimism for investors at this point in time.

It was noted that the improved point of sale integrations, working with more multi-state operators, introduction of new technologies and overall organic growth had been some of the factors behind the improvement in the performance on a year on year basis. The Chief Executive Officer of the company, Kurt Rossner, spoke about the situation as well. He noted that the company had made considerable advances in its platform in recent times and that has led to the availability of more functionality as well. That, in turn, led to the snaring of bigger ticker customers.

Key Quote

“We made some significant strides this year with our platform. We have more features and functionality that are attracting more and larger customers,” said Kurt Rossner, CEO of Leafbuyer. “The advances that we have made not only increase our top line, but also actually decrease the variable cost for many of our services.”

Traders Corner

LBUY stock is trading below the 20-Day and 50-Day Moving averages of $0.0411 and $0.0447 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0494.

Pete Matthews

Pete attended the University of Colorado and still calls the centennial state home. He chases trout in the summer and snowboards in the winter. He is fascinated with the markets and has a strong interest in nanocap stocks and crypto currency.