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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

Cannabis shipments authorized by state law have been seized by U.S. Border Patrol at checkpoints in southern New Mexico, causing frustration among licensed cannabis providers. Over $300,000 worth of marijuana has been confiscated, affecting businesses and prompting discussions between New Mexico's governor and the U.S. Homeland Security Secretary. Despite cannabis being legal in New Mexico and other states, it remains illegal under U.S. federal law, leading to these seizures. The situation has led to calls for action from New Mexico's congressional delegation to protect the state's cannabis industry.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 7:37 pm

A Democratic senator questioned Attorney General Merrick Garland on the impact of the SAFER Banking Act's Section 10 on criminal investigations, highlighting concerns about notifying customers of account terminations due to investigations. The section, criticized for potentially compromising law enforcement, was revised after bipartisan negotiations. The bill aims to mitigate financial discrimination against industries like gun manufacturing and payday lending. The discussion reflects ongoing debates over cannabis policy and banking regulations, with the Justice Department and DEA reviewing cannabis scheduling.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 5:12 pm

In Monday's after-market session, several Information Technology stocks showed notable movements. Gainers included My Size, Abits Group, Red Cat Holdings, Taoping, Evolv Technologies, and D-Wave Quantum with increases ranging from 3.16% to 12.6%. On the losing end, Mobix Labs, Mitek Systems, Movano, PowerFleet, Spectaire Holdings, and WM Tech experienced declines between 4.24% and 7.7%. Mitek Systems' drop was highlighted alongside its Q1 earnings report release.

Portfolio Pulse from Benzinga Insights

April 15, 2024 | 8:31 pm

Marijuana companies, led by Verano Holdings Corp., Canna Provisions, Wiseacre Farm, and Treevit CEO Gyasi Sellers, are challenging the DOJ's enforcement of cannabis prohibition, arguing it infringes on state rights. They request oral arguments in a Massachusetts federal court to address constitutional questions and the DOJ's stance that cannabis legalization promotes 'tourism' justifying federal prohibition. The case, supported by law firms Boies Schiller and Flexner LLP and Lesser, Newman, Aleo and Nasser LLP, highlights the conflict between state-legal cannabis activities and federal enforcement under the Controlled Substances Act.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 7:26 pm

WM Technology received a delinquency notification from Nasdaq on April 2, 2024, for not complying with listing rules. The company has until June 3, 2024, to submit a plan to regain compliance. This notification does not immediately affect its Nasdaq listing.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 8:25 pm

California's cannabis sector experienced a 5% sales decline in Q4 2023, with taxable sales dropping 8% to $1.25 billion. Despite rising wholesale prices, retailer margins have tightened, indicating decreased profitability. Companies like Gold Flora, StateHouse, and Weedmaps are highlighted for their market presence amidst challenges, including regulatory hurdles and the flourishing underground market. The upcoming Benzinga Cannabis Capital Conference in Florida is noted as a significant event for industry insights.

Portfolio Pulse from Nicolás Jose Rodriguez

April 09, 2024 | 1:19 pm

In Thursday's after-market session, 12 Information Technology stocks showed significant movement. Porch Group, Thoughtworks Holding, Presto Automation, Maxeon Solar Technologies, Kingsoft Cloud Holdings, and Expensify were among the gainers, with increases ranging from 4.43% to 5.5%. Conversely, Casa Systems, Cyngn, WM Tech, Bridgeline Digital, Baijiayun Group, and MariaDB were the losers, with decreases ranging from 4.33% to 8.0%.

Portfolio Pulse from Benzinga Insights

April 04, 2024 | 8:31 pm

Following a Florida Supreme Court decision, a report by Pablo Zuanic predicts a 400% growth in Florida's cannabis market if legalization passes in Nov. 2024, potentially increasing the market to $6B. Companies like Cansortium, AYR Wellness, iAnthus, SNDL, Trulieve, Planet 13, Cannabist, Cresco, Verano, and Curaleaf are expected to see significant valuation increases. The report also anticipates increased M&A activity and benefits for ancillary service providers like WM Technology.

Portfolio Pulse from Nicolás Jose Rodriguez

April 03, 2024 | 8:36 pm

California's cannabis sector is experiencing a sales decline, with a recent report from Zuanic & Associates highlighting the market's consolidation potential. Leading brands with financial backing are likely to benefit. The report covers companies like Gold Flora, StateHouse, and Weedmaps, noting a 5% drop in cannabis sales to $1.05 billion in Q4 2023. The sector faces challenges such as tighter retailer margins and legal issues, despite an increase in dispensary licenses. The upcoming Benzinga Cannabis Capital Conference will feature insights from Pablo Zuanic.

Portfolio Pulse from Nicolás Jose Rodriguez

March 29, 2024 | 12:48 pm

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