Pot stocks surge on news of cannabis rescheduling
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 30 2024
0mins
Should l Buy MAPS?
Source: SeekingAlpha
- Cannabis Stocks Surge: Cannabis-related stocks saw significant gains after reports that the DEA plans to reclassify marijuana as a less dangerous drug.
- Stocks and ETFs Rise: Companies like Curaleaf Holdings, Cresco Labs, and ETFs like AdvisorShares Pure Cannabis ETF recorded double-digit percentage gains.
- Tax Benefits Expected: Reclassifying marijuana could bring tax benefits to cannabis companies and open up opportunities for research.
- Review Process Underway: The DEA is in the process of reviewing the rescheduling recommendation from the U.S. Department of Health and Human Services.
- Potential Implications: Moving marijuana to Schedule III could lead to new federal tax deductions and credits for cannabis businesses.
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Analyst Views on MAPS
About MAPS
WM Technology, Inc. operates the online cannabis marketplace for consumers together with a set of eCommerce and compliance software solutions for cannabis businesses, which are sold to retailers and brands in the legalized cannabis markets in states and territories of the United States. The Company’s business primarily consists of its commerce-driven marketplace (Weedmaps), and its fully integrated suite of end-to-end software-as-a-service solutions software offering (Weedmaps for Business). The Weedmaps marketplace provides cannabis consumers with information regarding cannabis retailers and brands. In addition, the Weedmaps marketplace aggregates data from a variety of sources, including retailer point-of-sale solutions, to provide consumers to browse by strain, price, cannabinoids and other information regarding locally available cannabis products, through its Website and mobile apps. Its subscription package includes WM Listings, WM Orders, WM Store, WM Connectors and WM Insights.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
WM Technology Announces Preliminary Q1 2026 Financial Results
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- Adjusted EBITDA Expectations: The company expects adjusted EBITDA to range from $5 million to $7 million, reflecting ongoing efforts in cost control and operational efficiency, even amidst an uncertain market environment.
- Cash Position: As of March 31, 2026, the company's cash, cash equivalents, and investments totaled approximately $57 million, providing ample financial support for future strategic expansions and enhancing its competitive position in the industry.
- Delisting Strategy: WM Technology plans to delist from Nasdaq and transition to the OTCQX exchange, with CEO Doug Francis stating that this strategic decision will offer greater flexibility for the company, which may impact liquidity in the short term but is expected to help capture new market opportunities in the long run.
See More
WM Technology Inc. Anticipates Q1 2026 Revenue Between $42 Million and $44 Million
- Revenue Expectations: The expected revenue for Q1 2026 is projected to be between $42 million and $44 million.
- Market Analysis: The figures indicate a positive outlook for the technology sector in the upcoming quarter.
See More
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- Regulatory Burden Reduction: The company plans to file Form 25 to deregister its common stock and warrants, which is expected to decrease management costs and resource consumption associated with compliance with Nasdaq and Exchange Act reporting requirements.
- Liquidity Challenges: Due to a lack of comparable companies and investor interest, WM Technology's securities have low liquidity, and after delisting, they will transition to trading on the OTC market, although this does not guarantee continued market activity.
- Long-term Strategic Adjustment: The company's board believes that delisting will facilitate long-term sustainable value creation, particularly in the unique regulatory environment of the cannabis industry, allowing WM Technology to better serve its clients and investors.
See More
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- Fourth Quarter Revenue Decline: Although fourth-quarter revenue reached $43 million, it represented a 10% year-over-year decline, reflecting ongoing challenges in core markets, particularly intensified competition from illicit markets.
- Market Consolidation Response Strategy: WM Technology is focusing on enhancing product offerings and deepening relationships with large California-based clients and MSO partners to address challenges posed by market consolidation, aiming to improve market competitiveness and customer experience.
See More
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- Earnings Expectations: The consensus EPS estimate stands at $0.03, indicating a slight potential for growth in the company's profitability amidst challenging market conditions.
- Revenue Forecast: The projected revenue for Q4 is $42 million, reflecting an 11.9% year-over-year decline, which highlights the challenges the company faces in maintaining its market position and future growth prospects.
- Market Attention: Investors and analysts are closely monitoring WM Technology's financial performance, particularly in light of its historical earnings data and Seeking Alpha's Quant Rating, which could influence market sentiment and stock performance.
See More
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- CFO Transition: Susan Echard will officially transition to Chief Financial Officer on January 30, 2026, ending her contracted arrangement, which is anticipated to enhance financial stability and consistency in the company's management.
- Rich Industry Experience: Harry DeMott, former CEO of Proper, and Brent Cox, founder of Subtext Holdings, both possess deep backgrounds in capital markets and technology, which will strengthen WM Technology's competitive edge in the cannabis market.
- Market Positioning Enhancement: By introducing new board members, WM Technology aims to further solidify its Weedmaps marketplace position, drive ongoing development in the cannabis industry, and reinforce its advocacy for safe and legal consumer access.
See More
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- Financial Overview: WM Technology anticipates Q1 2026 revenue between $42 million and $44 million, indicating a stable performance in the market despite industry challenges, which suggests resilience in its core business.
- Adjusted EBITDA Expectations: The company expects adjusted EBITDA to range from $5 million to $7 million, reflecting ongoing efforts in cost control and operational efficiency, even amidst an uncertain market environment.
- Cash Position: As of March 31, 2026, the company's cash, cash equivalents, and investments totaled approximately $57 million, providing ample financial support for future strategic expansions and enhancing its competitive position in the industry.
- Delisting Strategy: WM Technology plans to delist from Nasdaq and transition to the OTCQX exchange, with CEO Doug Francis stating that this strategic decision will offer greater flexibility for the company, which may impact liquidity in the short term but is expected to help capture new market opportunities in the long run.
See More
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- Revenue Expectations: The expected revenue for Q1 2026 is projected to be between $42 million and $44 million.
- Market Analysis: The figures indicate a positive outlook for the technology sector in the upcoming quarter.
See More
WM Technology Announces Voluntary Delisting from Nasdaq
- Voluntary Delisting Decision: WM Technology announced its intention to delist from Nasdaq on April 24, 2026, aiming to remove operational constraints and enhance agility and focus in the evolving cannabis industry.
- Regulatory Burden Reduction: The company plans to file Form 25 to deregister its common stock and warrants, which is expected to decrease management costs and resource consumption associated with compliance with Nasdaq and Exchange Act reporting requirements.
- Liquidity Challenges: Due to a lack of comparable companies and investor interest, WM Technology's securities have low liquidity, and after delisting, they will transition to trading on the OTC market, although this does not guarantee continued market activity.
- Long-term Strategic Adjustment: The company's board believes that delisting will facilitate long-term sustainable value creation, particularly in the unique regulatory environment of the cannabis industry, allowing WM Technology to better serve its clients and investors.
See More
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- Annual Revenue Growth: WM Technology achieved $175 million in revenue for 2025, with adjusted EBITDA of $40 million, indicating stable performance despite industry challenges.
- Cash Reserves Increase: The company ended the year with $62 million in cash, marking a nearly 20% increase from the end of 2024, providing stronger financial support for future investments and operations.
- Fourth Quarter Revenue Decline: Although fourth-quarter revenue reached $43 million, it represented a 10% year-over-year decline, reflecting ongoing challenges in core markets, particularly intensified competition from illicit markets.
- Market Consolidation Response Strategy: WM Technology is focusing on enhancing product offerings and deepening relationships with large California-based clients and MSO partners to address challenges posed by market consolidation, aiming to improve market competitiveness and customer experience.
See More
WM Technology to Announce Q4 Earnings on March 12
- Earnings Announcement Schedule: WM Technology is set to release its Q4 earnings report on March 12, 2023, after market close, drawing significant attention from the market.
- Earnings Expectations: The consensus EPS estimate stands at $0.03, indicating a slight potential for growth in the company's profitability amidst challenging market conditions.
- Revenue Forecast: The projected revenue for Q4 is $42 million, reflecting an 11.9% year-over-year decline, which highlights the challenges the company faces in maintaining its market position and future growth prospects.
- Market Attention: Investors and analysts are closely monitoring WM Technology's financial performance, particularly in light of its historical earnings data and Seeking Alpha's Quant Rating, which could influence market sentiment and stock performance.
See More
WM Technology Appoints New Board Members
- New Board Members: WM Technology announced the appointment of Harry DeMott and Brent Cox to its Board of Directors effective February 1, 2026, both bringing extensive experience in the cannabis and technology sectors, which is expected to provide strategic guidance for the company's growth in a highly regulated market.
- CFO Transition: Susan Echard will officially transition to Chief Financial Officer on January 30, 2026, ending her contracted arrangement, which is anticipated to enhance financial stability and consistency in the company's management.
- Rich Industry Experience: Harry DeMott, former CEO of Proper, and Brent Cox, founder of Subtext Holdings, both possess deep backgrounds in capital markets and technology, which will strengthen WM Technology's competitive edge in the cannabis market.
- Market Positioning Enhancement: By introducing new board members, WM Technology aims to further solidify its Weedmaps marketplace position, drive ongoing development in the cannabis industry, and reinforce its advocacy for safe and legal consumer access.
See More
