STMH - Stem Holdings (STMH)(STEM:CA) - Budee on the Apple App Store

Apple App and Budee. Driven by Stem's Budee e-commerce cannabis delivery platform and service has launched Budee Cannabis Delivery app, which is available for download in the Apple App store. Customers of the Budee app can now seamlessly and confidentially purchase cannabis products through their mobile device in the California and Oregon markets served by Budee, with additional markets expected by year-end.Importance of Apple App Store. With 113 million iPhone users in the U.S., the potential of being on the Apple App store is enormous. Already, the Apple App store is estimated to drive more than $500 billion of commerce through the more than two million available apps. Notably, being featured on the Apple App increases downloads by a median 30% for non game apps in the U.S.Budee App. The Budee app enables Budee’s 173,000 loyal customers to purchase from its wide-ranging selection and track orders to their doorstep with an intuitive app-based shopping experience. The Budee app improves the cannabis delivery customer experience by streamlining customer interactions into a single easy-to-use app interface. Additionally, customers installing Budee’s app can take advantage of personalized, unique deals and discounts.Maintaining Outperform. In spite of a slower than anticipated revenue ramp, we are maintaining our Outperform rating and a $2.00 12-month price target. We believe the Company's merger with Driven Deliveries has established Stem as the first cannabis cultivator and technology omnichannel retailer with e-commerce ordering and express and next-day delivery, providing Stem with not only a first mover advantage but a defensible moat. Read More >>