WM Technology rises after Truist Securities starts coverage with 'buy'

WM Technology

02/09/2021 16:17

** Shares of software solutions provider  MAPS.O  to
cannabis industry rise 4.7% to $14.80
    ** Stock on course for fifth consecutive session of gains 
    ** Truist Securities starts coverage on MAPS with 'buy' and
PT of $18
    ** Brokerage says co serves both cannabis retailers and
consumers with its WM Business (business-to-business) and
Weedmaps marketplace (business-to-consumer) platforms
    ** Truist expects over 30% rev growth over multi-year period
    ** Truist says co has ~40% market share among 10,600
licensed cannabis retailers in U.S. and Canada, but believes $20
bln market is still vastly underserved
    ** Avg. stock rating is 'buy'; median PT is $18.5 -
Refinitiv data
    

 (Reporting by Siddarth S)
 ((Siddarth.s@thomsonreuters.com;))