MAPS

WM Technology Inc

Consumer, SPAC


Presented:12/16/2020
Price:$12.00
Cap:$0.38B
Current Price:$0.92
Cap:$0.09B

Presented

Date12/16/2020
Price$12.00
Market Cap$0.38B
Ent Value$0.32B
P/E Ratio154.84x
Book Value$7.86
Div Yield0%
Shares O/S31.25M
Ave Daily Vol749,898
Short IntN/A

Current

Price$0.92
Market Cap$0.09B
WM Holding Company, LLC provides software and technology solutions to the cannabis industry. It operates Weedmaps, an online directory of cannabis retailers and information site for cannabis producers and consumers; and provides cloud-based software as a service and data solutions to cannabis retailers and major brands. The company was founded in 2008 and is headquartered in Irvine, California.

Please note, on 6/16/21 Silver Spike Acquisition Corp. (SSPK) changed its company name and ticker to WM Technology, Inc. (MAPS). The content of this idea will make reference to the original company name and ticker symbol.

Publicly traded companies mentioned herein: Alphabet Inc (GOOGL), GrowGeneration Corp (GRWG), Nasdaq Inc (NDAQ), Silver Spike Acquisition Corp (SSPK), Zillow Group Inc (ZG), Yelp Inc (YELP)

Highlights

The presenter is long shares of Silver Spike Acquisition Corp (SSPK), which on December 10, 2020, announced a definitive agreement for a merger that would result in WM Holdings (Weedmaps) becoming a publicly listed company on the Nasdaq. Weedmaps operates an online listings marketplace for cannabis consumers, and he believes the company stands to benefit from positive secular trends in the U.S. cannabis market, the scarcity value of companies tied to U.S. cannabis consumption, and its tech-enabled business model. 

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Idea Discussion

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