Streetbeat News

MAPS

WM Technology, Inc.

https://www.weedmaps.com

Industry

Software - Application

WM Technology, Inc. provides ecommerce and compliance software solutions to retailers and brands in cannabis market in the United States, Canada, and internationally. The company offers Weedmaps marketplace that allows cannabis users to search for and browse cannabis products from retailers and brands, and reserve products from local retailers; and information on the cannabis plant, and the industry and advocate related services for legalization. It also provides WM Business suite of monthly subscription-based software solutions, including WM Orders, WM Dispatch, WM Store, WM Dashboard, integrations, and API platform, as well as access to its WM Retail and WM Exchange products. In addition, the company offers advertising solutions; Sprout, a customer relationship management solution; and Cannveya, a delivery and logistics software solution. WM Technology, Inc. was founded in 2008 and is headquartered in Irvine, California.

Open

0.75

Mkt cap

75M

Volume

430K

High

0.81

P/E Ratio

-9.62

52-wk high

1.47

Low

0.75

Div yield

N/A

52-wk low

0.69

Republican presidential candidate Vivek Ramaswamy plans to remove federal restrictions on marijuana and psychedelics for veterans with PTSD if elected. He supports descheduling certain substances and has criticized federal prohibition on marijuana. Despite this, he voted against Ohio's state-level legalization due to conflicts with federal law and concerns over federal power overreach. His stance has been seen as inconsistent, especially with his proposal to expand the DEA while reducing other federal agencies.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 6:26 pm

WM Technology Inc (NASDAQ:MAPS) reported a mixed financial performance for Q3 2023 with revenues falling to $47.7 million from $50.5 million YoY, but net losses shrinking to $2.5 million from $10.5 million. The company's adjusted EBITDA stood at a positive $10.7 million, compared to a loss of $9.6 million in Q3 2022. The company projects revenues of around $47 million and an adjusted EBITDA of $5 million for Q4 2023.

Portfolio Pulse from Patricio Liddle

November 09, 2023 | 7:31 pm

WM Technology has projected its Q4 revenue to be $47 million.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 11:02 pm

WM Tech (NASDAQ:MAPS) reported Q3 2023 earnings per share (EPS) of $(0.02), beating the analyst consensus estimate of $(0.03) by 33.33%. This is a 66.67% increase over losses from the same period last year. The company also reported quarterly sales of $47.73M, beating the analyst consensus estimate of $47.20M by 1.11%. However, this is a 5.50% decrease over sales from the same period last year.

Portfolio Pulse from totan@benzinga.com

November 08, 2023 | 10:02 pm

The Drug Enforcement Administration (DEA) plans to significantly increase domestic production of delta-9 THC and other cannabinoids for research purposes in 2024. The agency also plans to maintain high levels of psychedelics production. The DEA has proposed nearly doubling the amount of psilocybin, psilocyn, and delta-9 THC manufactured compared to initial levels set for this year, while quintupling the production of ibogaine. The DEA's move comes amid a transition away from cannabinoid imports to domestic manufacturing.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 6:45 pm

Senate Majority Leader Chuck Schumer plans to amend the Secure and Fair Enforcement Regulation (SAFER) Banking Act to include criminal justice provisions. The amendments will be borrowed from a separate federal legalization bill, the Cannabis Administration and Opportunity Act (CAOA), and will include measures such as resentencing for current federal cannabis prisoners. Despite uncertainties around the new GOP House speaker's stance on cannabis, key Senate Republicans are prepared to move forward with the legislation.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 3:16 pm

A key House committee will consider amendments to a large-scale spending bill that would prevent drug testing of certain federal job applicants for marijuana and end the blockade that has kept Washington, D.C. from legalizing cannabis sales. The amendments were filed to Fiscal Year 2024 appropriations legislation covering Financial Services and General Government (FSGG). The GOP-controlled House Rules Committee, which has rejected numerous drug policy reform measures in recent months, will take up the amendments.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 3:00 pm

The newly elected U.S. House Speaker, Rep. Mike Johnson, has a history of voting against marijuana-related measures, including banking, research, and legalization. This could potentially impact the advancement of the Secure and Fair Enforcement Regulation (SAFER) Banking Act, which is currently being worked on by Senate leadership. Johnson's stance on marijuana could also affect the future of cannabis research and legalization efforts.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 7:37 pm

Bipartisan House lawmakers have refiled a bill to federally legalize marijuana, the States Reform Act, which was first introduced in 2021. The bill aims to end federal cannabis prohibition and treat marijuana similarly to alcohol. It includes provisions for expungements for non-violent cannabis convictions and imposes an excise tax, the revenue from which would support community reinvestment, law enforcement, and Small Business Administration activities. The bill's prospects of advancing under the GOP-controlled House are uncertain.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 3:26 pm

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