Weedmaps owner WM Tech gains on upbeat forecasts

WM Technology

24/02/2022 18:57

** WM Technology Inc  MAPS.O , operator of cannabis
information website Weedmaps, climbs as much as 25.5% to $5.51
    ** The cannabis software provider is set for its biggest pct
jump since Dec. 2020 if gains hold; among top 10 biggest pct
gainers across U.S. exchanges
    ** MAPS forecast Q1 and FY revenue above analysts' estimates
as per Refinitiv data  urn:newsml:reuters.com:*:nBw4GCdYQa
    ** Co reports Q4 rev. rose 22% to $54.2 mln, beating
analysts' average expectation of $51.1 mln
    ** Says monthly active users grew 57%, average monthly
paying clients rose 23%
    ** Q4 EPS of 53 cents/shr beat Wall Street consensus of 4
cents/shr
    ** About 2.4 mln shares exchanged hands, ~2.6x co's 25-DMA
    ** Stock had fallen ~83% over the past 12 months up to last
close

 (Reporting by Ruhi Soni in Bengaluru;)
 ((Ruhi.Soni@thomsonreuters.com;
Twitter: https://twitter.com/ruhithere;))