First pot company goes for an IPO, can Nasdaq deal?
The first marijuana company on the Nasdaq exchange to openly embrace stoner culture has filed for an IPO.
Denver-based MassRoots, which says it's a technology company first and a pot company second, connects cannabis enthusiasts worldwide through a free app on iOS and Android devices. Their SmokeSocial is a way to find smoking buddies near you.
Apparently there are red flags in the filing: the company has no profits and the 23 year old CEO says they may never become profitable. Bean counters at Nasdaq hate that!
Remember when New York bankers went apeshit at Mark Zuckerberg showing up for his IPO in a hoodie? How are they going to handle MassRoots? A peek at their Vine...