- 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.
June 18 2021,
Both chambers of the Connecticut legislature passed a REC bill after questions of equity and license preferences threatened to derail it. Gov. Ned Lamont(D) is expected to sign the bill.
- Lawmakers approved the bill in a special legislative session overcoming objections from both parties.
- The bill did not include a provision that would have given special preferences to those previously arrested or convicted of pot crimes. Gov. Lamont had threatened to veto the bill if the provision was included.
- It's likely to be a year or more before commercial product goes on sale in what could be a multi-billion dollar market.
- Gov. Lamont said he's open to smoking REC, once he signs the bill.
- On Tuesday June 29, Vicente Sederberg is hosting a webinar with a tri-state update on the New York, New Jersey and Connecticut markets.
- The Florida Supreme Court rejected a REC initiative for the 2022 ballot on grounds that the language was misleading.
- A federal judge said Detroit's cannabis ordinance gave "likely unconstitutional" advantages to longtime city residents and blocked the city from processing REC license applications.
- In Illinois, investors anticipate successful applicants for equity retail licenses will sell them to MSOs.
- New Frontier projects $6B in Q2 legal U.S. sales. Annualized, that's $24B 2021 sales, up about a third from last year.
- Unlicensed weed, much of it from California, continues to sell well in Illinois. The industry blames high pot taxes.
- The Coalition for Cannabis Policy, Education and Regulation, which has members including tobacco and alcohol interests, released a paper on how the industry can support small and minority owned businesses.
- Headset compiled a list of top selling gummies by flavor.
- Berlin-based Sanity Group, which has developed a platform for tracking MED therapy digitally, raised a $44.2M Series A. It appears to be the largest European cannabis financing to date.
- Compliance software company Simplifya raised a $6M Series B.
- Society magazine Town & Country profiles the Rockefeller heiress who's getting into the hemp business.
- Tiger King a.k.a. Joe Exotic is trying to launch a cannabis brand from federal prison. His attorney told TMZ and the Tulsa World that they have a deal "locked" in partnership with Tango Hotel Charlie Group LLC and Cannaxxs LTD.