or to vote comment and more!
Investors stopped writing checks in 2019 because many cannabis companies were spending vast amounts of money to gain market share but failed to show a profit. That caused their stock prices to crater.
Three large SPAC initial public offerings have fueled the upswing in the cannabis industry in the first three months of this year, according to Viridian:
Cannabis advertising giant Weedmaps hopes to boost its revenue over the next three years by a whopping 175% – and investors are wagering the California-based company can deliver on that goal.
Since announcing its acquisition of Weedmaps on Dec. 10, Silver Spike Acquisition Corp. has seen its shares more than double, resulting in a Weedmaps valuation at 21 times sales and 98 times EBITDA for 2020.