BLOCKStrain Technology Corp’s Blockchain Looks Well Suited for Cannabis
June 15, 2018: BLOCKStrain Technology Corp. (TSXV:DNAX) is a unique software company focused on serving the cannabis industry through a proprietary platform that helps craft growers protect their intellectual property. Since its opening day close of $1.06, shares of BLOCKStrain have sank nearly 43% to current price of $0.60.
Absence of listed peers and lack of revenues makes valuing BLOCKStrain tricky and will likely depend primarily on its ability to build customers and deliver decent financial performance. BLOCKStrain currently trades at a market cap of $47 million, which could grow multifold as the Company’s customers and financial performance accelerates. As a result, investors wanting exposure to unique verticals within the cannabis space could look to BLOCKStrain driven by increased customer additions.
- Unique software company focused on serving the cannabis industry
- Large and untapped opportunity
- WeedMD investment shows proof of concept