The parent company of cannabis advertising and tech platform Weedmaps raised $579M in its debut on the NASDAQ stock exchange Wednesday. The company’s ticker symbol is MAPS.
MJBiz
- The company went public via a SPAC deal with Silver Spike Acquisition Corp., which changed its name to WM Technology. The deal, announced in December valued the company at $1.5B.
- The stock closed the week at 19.97 after popping to reach $21.72 per share on Wednesday.
- In an interview with Insider, Weedmaps CEO Chris Beals explained why he’s not afraid of Amazon.
- Analysts Cornerstone Investments shared their thoughts on the stock in March.
Seeking Alpha
Quick Hit
- Canadian operator Cronos paid $110.4M for an option to acquire a 10.5% stake in privately-held PharmaCann, which operates in New York.
