NCIA And ArcView Criticize NASDAQ In Letter After MassRoots/MSRT Rejection
Posted by Johnny Green at 6:34 AM on June 1, 2016 Marijuana Business News
I stand with MassRoots. MassRoots was recently rejected by NASDAQ, and the National Cannabis Industry Association and ArcView Group issued a joint letter criticizing NASDAQ’s decision, and supporting MassRoots’ appeal. I don’t know a lot about the stock market, and all the details of NASDAQ’s application process, but I do know flawed logic based off of reefer madness when I see it, which is the case with NASDAQ’s decision to reject MassRoots. Below is a copy of that letter:
May 31, 2016 Mr. Robert Greifeld Chief Executive Officer The NASDAQ Stock Market AnchorOne Liberty Plaza 165 Broadway New York, NY 10006
Re: National Cannabis Industry Association and ArcView Group Statement of Support of MassRoots’ Appeal
Dear Mr. Greifeld:
On behalf of the tens of thousands of small businesses in the regulated cannabis industry, we are writing in support of MassRoots’ appeal to list on Nasdaq. We believe the precedent Nasdaq has established in denying MassRoots’ application could prevent nearly every business in the regulated cannabis industry from listing on Nasdaq, hampering job creation and slowing the growth of the industry.
The central argument in denying MassRoots’ application for listing is its business model could be perceived as aiding and abetting the distribution of an illegal substance. This standard is so vague that thousands of businesses across the country will be unable to reasonably determine if their conduct could result in being unable to list on Nasdaq. Is every power company that provides electricity to marijuana cultivation operations aiding and abetting? What about Google that shows people where to buy marijuana? Is Facebook liable for the tens of thousands of illegal drug transactions that likely occur over its network on a regular basis? The Denver Post and New York Times have publicly accepted advertising dollars from the cannabis industry – are the owners of those publications also banned from listing on Nasdaq? Several local and national banks traded on national exchanges have accepted regulated cannabis businesses as clients and conduct marijuana-related transactions on their behalf, could those banks also be perceived as aiding and abetting?
Nasdaq is one of the world’s most-effective connectors of innovative, disruptive companies with investment capital – more IPOs occur on Nasdaq than any other exchange. In this unique position, Nasdaq serves as both a source of investor liquidity and significant growth capital — the precedent set in this case will undoubtedly factor into every cannabis-related investment decision made by institutional investors, resulting in significantly less capital being deployed to the cannabis sector. We believe Nasdaq’s dangerous precedent could slow the growth of the cannabis industry and stifle job creation across the United States.
We are calling on Nasdaq to treat cannabis companies fairly. If a company meets Nasdaq’s enumerated listing requirements, as MassRoots states it can do if you grant this appeal, we believe they should be allowed to list on Nasdaq. We encourage you to grant MassRoots’ appeal and reverse this dangerous precedent.
Respectfully,
/s/ Aaron Smith /s/ Troy Dayton Aaron Smith Troy Dayton Executive Director Chief Executive Officer National Cannabis Industry Association The Arcview Group
CC: Adena Friedman, President and Chief Operating Officer, The NASDAQ Stock Market Edward Knight, Executive Vice President and General Counsel, The NASDAQ Stock Market Isaac Dietrich, Chairman and Chief Executive Officer, MassRoots, Inc.
About The National Cannabis Industry Association The National Cannabis Industry Association (NCIA) is the largest cannabis trade association in the U.S. and the only organization representing cannabis-related businesses at the national level. NCIA promotes the growth of a responsible and legitimate cannabis industry and works toward a favorable social, economic, and legal environment for that industry in the United States. More information at thecannabisindustry.org
About The Arcview Group Founded in 2010, The Arcview Group is responsible for a number of groundbreaking ventures in the cannabis industry. The Arcview Investor Network includes more than 550 accredited investors who have put more than $72 million behind 114 companies. Arcview Market Research produces the State of Legal Marijuana Markets report, which is the most oft-cited market data report. In 2015, Arcview became a partner in Canopy, the first seed-stage mentor-driven business accelerator. Arcview is also co-founder of Cannasure Insurance Services, the leading provider of business insurance to the cannabis industry.Parties who wish to be added as signatories can do so at www.MassRoots.com/NasdaqAppeal.
20160608|MSRT|50587|0|85170|O 59.39% 14,500 t trades bypass
t trades bypass reg sho *reporting* .. ;)
so today's true %s are actually 65.30%
Volume 99,670 Volume (10 day Average) 202,394 Volume (90 day Average) 137,804 for those paying attn .. CEs' are doing a significant % of t trades regularly these days ..
i'm reminded of the 2 30,000 *trades* a few days ago ah's .. ;)
16:08:48 0.955 11500 OTO 16:07:00 0.95 1000 OTO 16:06:49 0.95 1000 OTO
15:59:04 0.965 100 OTO 15:42:54 0.955 6500 OTO 15:18:34 0.965 1000 OTO 15:12:20 0.965 200 OTO 15:09:25 0.9799 100 OTO 15:09:25 0.98 100 OTO 14:56:14 0.9799 2000 OTO 14:56:14 0.98 2000 OTO 14:53:20 0.98 750 OTO 14:48:52 0.95 950 OTO 14:06:49 0.965 400 OTO 14:06:49 0.98 400 OTO 13:12:13 0.965 1000 OTO 13:08:46 0.98 208 OTO 13:08:46 0.98 100 OTO 13:08:46 0.9799 308 OTO 13:08:45 0.965 1100 OTO 13:08:45 0.965 1750 OTO 12:44:33 0.95 500 OTO 12:26:37 0.98 306 OTO 12:26:24 0.98 500 OTO 12:26:18 0.98 1000 OTO 12:26:13 0.98 1000 OTO 12:26:11 0.98 1000 OTO 12:24:57 0.96 1413 OTO 12:24:36 0.96 2000 OTO 12:01:35 0.96 700 OTO 12:01:35 0.96 300 OTO 11:54:25 0.9599 261 OTO 11:54:25 0.955 500 OTO 11:51:55 0.9599 100 OTO 11:51:55 0.96 100 OTO 11:51:55 0.9599 100 OTO 11:51:55 0.9599 200 OTO 11:51:55 0.96 200 OTO 11:51:51 0.9599 400 OTO 11:51:51 0.96 400 OTO 11:51:50 0.9599 700 OTO 11:51:49 0.96 700 OTO 11:51:49 0.9599 1000 OTO 11:51:49 0.96 1000 OTO 11:51:45 0.9599 1000 OTO 11:51:45 0.96 1000 OTO 11:42:31 0.96 214 OTO 11:42:31 0.9599 300 OTO 11:42:31 0.9599 200 OTO 11:42:31 0.96 200 OTO 11:42:29 0.9599 1000 OTO 11:42:29 0.96 1000 OTO 11:42:27 0.9599 1000 OTO 11:42:27 0.96 1000 OTO 11:36:18 0.9475 1000 OTO 11:31:16 0.96 600 OTO 11:31:11 0.96 2000 OTO 11:31:07 0.96 1567 OTO 11:30:42 0.96 3069 OTO 11:28:21 0.95 519 OTO 11:27:37 0.94875 180 OTO 11:20:46 0.9475 1107 OTO 11:20:22 0.9475 869 OTO 11:19:40 0.948 100 OTO 11:14:14 0.95 100 OTO 11:13:53 0.95 600 OTO 11:05:23 0.95 2000 OTO 10:56:46 0.955 1268 OTO 10:53:49 0.9475 500 OTO 10:44:17 0.96 40 OTO 10:40:43 0.9475 1400 OTO 10:40:31 0.9475 100 OTO 10:33:52 0.9475 293 OTO 10:24:08 0.9475 3131 OTO 10:23:43 0.9475 100 OTO 10:07:55 0.9538 1000 OTO 10:02:57 0.96 25 OTO 10:02:47 0.96 100 OTO 09:56:19 0.9476 1700 OTO 09:55:53 0.95 4400 OTO 09:55:42 0.952 100 OTO 09:55:19 0.95 795 OTO 09:52:53 0.95 1000 OTO 09:52:53 0.9501 2000 OTO 09:47:39 0.9599 67 OTO 09:47:39 0.96 67 OTO 09:47:37 0.9599 1100 OTO 09:47:37 0.96 1100 OTO 09:47:35 0.955 3000 OTO 09:46:34 0.955 100 OTO 09:38:34 0.955 1000 OTO 09:37:39 0.96 1000 OTO 09:30:24 0.96 100 OTO 09:30:17 0.96 1000 OTO 09:30:17 0.96 520 OTO 09:30:15 0.96 480 OTO 09:30:15 0.96 520 OTO 09:30:06 0.96 110 OTO 09:30:06 0.96 400 OTO 09:30:06 0.96 2000 OTO 09:30:06 0.96 3 OTO 09:30:06 0.9475 100 OTO 09:30:06 0.96 30 OTO 09:30:04 0.96 550 OTO
09:25:56 0.96 1000 OTO
Detailed Quote:MSRT MASSROOTS INC 0.96495Up 0.00495 (0.52 %)AS OF 3:59:04PM ET 06/08/2016
Last Trade 0.96495 Trade Time 3:59:04pm ET
Change 0.00495 % Change 0.52%
Open 0.96 Day High 0.98 Day Low 0.9475 Previous Close 06/07/2016 0.96 52-Week High 09/08/2015 2.34 52-Week Low 05/25/2016 0.52
Price Performance (Last 52 Weeks) -- --%
Volume 99,670 Volume (10 day Average) 202,394 Volume (90 day Average) 137,804
using MM Monthly (actual stats reported to Finra by MMs)
we have the following data for the *decoys* .. and those utilized to spew .. ;)
MSRT ~ MAY 2016 .. Total *volume* = 2,654,922
with 14 MMs *active* and *reporting* to FINRA .. with PUMA *reporting* 3.48% (92,323 shares) and VNDM *reporting* 0.85% (22,528 shares) ..
MSRT Massroots, Inc. Common Stock Other OTC 2,654,922 PUMA Puma Capital, LLC 92,323 7 3.48%
MSRT Massroots, Inc. Common Stock Other OTC 2,654,922 VNDM Vandham Sec Corp. 22,528 10 0.85%
now for a few yucks .. note the PRIMARY/SECONDARY/TERTIARY *reporting* re: MSRT for MAY 2016 .. aka wash trading via *resets* .. ;)
do the math folks .. 36% = 18% + 18% .. this isn't rocket science and what is remarkable is that the SEC CONtinues to allow this garbage day in and day out on the poorly watched (and always illegally manipulated) OTC ..
why exactly is that?
is it obvious yet .. there is no market making .. it's manipulating the market for a few at the expense of most
MSRT Massroots, Inc. Common Stock Other OTC 2,654,922 NITE KCG AMERICAS LLC 959,625 136.15%
MSRT Massroots, Inc. Common Stock Other OTC 2,654,922 CDEL CITADEL SECURITIES LLC 489,173 218.43% MSRT Massroots, Inc. Common Stock Other OTC 2,654,922 CSTI CANACCORD GENUITY INC. 477,885 318%