Who Are New York's Cannabis Shoppers? Weedmaps Reveals Fresh Data Amid Legal Market Expansion
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 12 2024
0mins
Should l Buy MAPS?
Source: Benzinga
- Weedmaps Data Insights: Weedmaps shared data on New York's cannabis market for Q1 2024, revealing consumer preferences and trends.
- Product Preferences: Cannabis flower is dominant in NY, with edibles also popular; vape pens are less favored compared to the national average.
- Age Demographics: Consumers over 50 prefer edibles, while those under 50 lean towards vape pens, showing distinct age-related preferences.
- Financial Commitment: New York's cannabis shoppers have a higher Average Order Value and purchase more items per order than the national average.
- Market Dynamics: Despite a preference for in-store shopping, delivery remains significant in NY, indicating demand for convenience; upcoming event to discuss market insights.
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Analyst Views on MAPS
About MAPS
WM Technology, Inc. operates the online cannabis marketplace for consumers together with a set of eCommerce and compliance software solutions for cannabis businesses, which are sold to retailers and brands in the legalized cannabis markets in states and territories of the United States. The Company’s business primarily consists of its commerce-driven marketplace (Weedmaps), and its fully integrated suite of end-to-end software-as-a-service solutions software offering (Weedmaps for Business). The Weedmaps marketplace provides cannabis consumers with information regarding cannabis retailers and brands. In addition, the Weedmaps marketplace aggregates data from a variety of sources, including retailer point-of-sale solutions, to provide consumers to browse by strain, price, cannabinoids and other information regarding locally available cannabis products, through its Website and mobile apps. Its subscription package includes WM Listings, WM Orders, WM Store, WM Connectors and WM Insights.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- New Board Members: WM Technology announced the appointment of Harry DeMott and Brent Cox to its Board of Directors effective February 1, 2026, both bringing extensive experience in the cannabis and technology sectors, which is expected to provide strategic guidance for the company's growth in a highly regulated market.
- CFO Transition: Susan Echard will officially transition to Chief Financial Officer on January 30, 2026, ending her contracted arrangement, which is anticipated to enhance financial stability and consistency in the company's management.
- Rich Industry Experience: Harry DeMott, former CEO of Proper, and Brent Cox, founder of Subtext Holdings, both possess deep backgrounds in capital markets and technology, which will strengthen WM Technology's competitive edge in the cannabis market.
- Market Positioning Enhancement: By introducing new board members, WM Technology aims to further solidify its Weedmaps marketplace position, drive ongoing development in the cannabis industry, and reinforce its advocacy for safe and legal consumer access.
See More
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- New Board Members: WM Technology appointed Harry DeMott and Brent Cox to its board of directors effective February 1, 2026, aiming to enhance governance and decision-making efficiency through diverse perspectives and experiences.
- CFO Transition: Susan Echard will transition to a full-time Chief Financial Officer on January 30, 2026, which is expected to stabilize financial management and strategic planning, thereby supporting WM Technology's long-term growth objectives.
- Revenue Target Setting: WM Technology has set a revenue target of $41 million to $43 million for Q4 2025, demonstrating confidence in future performance despite ongoing market pressures, indicating a proactive approach to market dynamics.
- Market Environment Challenges: In the current market landscape, WM Technology must effectively navigate various pressures to achieve its revenue targets while maintaining competitive advantages and attracting investor interest.
See More
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- New Board Members: WM Technology announced the appointment of Harry DeMott and Brent Cox to its Board of Directors effective February 1, 2026, both bringing extensive experience in the cannabis and technology sectors, which will provide strategic guidance to help the company thrive in a highly regulated market.
- CFO Transition: Susan Echard will transition from a contracted role to Chief Financial Officer of WM Technology effective January 30, 2026, ensuring stability and continuity in financial management, thereby enhancing the company's governance structure.
- Rich Industry Experience: DeMott is a General Partner at Raptor Ventures and previously founded Proper, a data company focused on cannabis, while Cox is the founder of Subtext Holdings, both leveraging their capital markets experience to drive WM Technology's growth.
- Market Leadership: Since its founding in 2008, WM Technology has become the premier platform for consumers to discover and browse cannabis-related products, and it will continue to advocate for full U.S. legalization and industry-wide social equity.
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Daily Upgrade Report for Validea Motley Fool Strategy - August 28, 2025
WM Technology Inc. Overview: WM Technology, Inc. operates an online cannabis marketplace and offers eCommerce and compliance software solutions for cannabis businesses, with a recent rating increase from 45% to 72% based on its fundamentals and valuation.
IES Holdings Inc. Overview: IES Holdings, Inc. is involved in designing and installing integrated electrical and technology systems, with its rating improving from 65% to 72%, indicating solid fundamentals and stock valuation.
Motley Fool's Investment Strategy: The Motley Fool strategy focuses on identifying small-cap growth stocks with strong fundamentals and price performance, where scores above 80% indicate interest in the stock.
Validea's Role: Validea provides investment research based on the strategies of renowned investors, offering stock analysis and model portfolios that aim to outperform the market over time.
See More
WM Technology Appoints New Board Members
- New Board Members: WM Technology announced the appointment of Harry DeMott and Brent Cox to its Board of Directors effective February 1, 2026, both bringing extensive experience in the cannabis and technology sectors, which is expected to provide strategic guidance for the company's growth in a highly regulated market.
- CFO Transition: Susan Echard will officially transition to Chief Financial Officer on January 30, 2026, ending her contracted arrangement, which is anticipated to enhance financial stability and consistency in the company's management.
- Rich Industry Experience: Harry DeMott, former CEO of Proper, and Brent Cox, founder of Subtext Holdings, both possess deep backgrounds in capital markets and technology, which will strengthen WM Technology's competitive edge in the cannabis market.
- Market Positioning Enhancement: By introducing new board members, WM Technology aims to further solidify its Weedmaps marketplace position, drive ongoing development in the cannabis industry, and reinforce its advocacy for safe and legal consumer access.
See More
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- New Board Members: WM Technology appointed Harry DeMott and Brent Cox to its board of directors effective February 1, 2026, aiming to enhance governance and decision-making efficiency through diverse perspectives and experiences.
- CFO Transition: Susan Echard will transition to a full-time Chief Financial Officer on January 30, 2026, which is expected to stabilize financial management and strategic planning, thereby supporting WM Technology's long-term growth objectives.
- Revenue Target Setting: WM Technology has set a revenue target of $41 million to $43 million for Q4 2025, demonstrating confidence in future performance despite ongoing market pressures, indicating a proactive approach to market dynamics.
- Market Environment Challenges: In the current market landscape, WM Technology must effectively navigate various pressures to achieve its revenue targets while maintaining competitive advantages and attracting investor interest.
See More
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- New Board Members: WM Technology announced the appointment of Harry DeMott and Brent Cox to its Board of Directors effective February 1, 2026, both bringing extensive experience in the cannabis and technology sectors, which will provide strategic guidance to help the company thrive in a highly regulated market.
- CFO Transition: Susan Echard will transition from a contracted role to Chief Financial Officer of WM Technology effective January 30, 2026, ensuring stability and continuity in financial management, thereby enhancing the company's governance structure.
- Rich Industry Experience: DeMott is a General Partner at Raptor Ventures and previously founded Proper, a data company focused on cannabis, while Cox is the founder of Subtext Holdings, both leveraging their capital markets experience to drive WM Technology's growth.
- Market Leadership: Since its founding in 2008, WM Technology has become the premier platform for consumers to discover and browse cannabis-related products, and it will continue to advocate for full U.S. legalization and industry-wide social equity.
See More
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- Financing Plan: ProStar Holdings intends to raise up to $500,000 through a non-brokered private placement of secured convertible debentures with a director, offering a 12.5% annual interest rate, which will provide crucial funding for the company's operations.
- Conversion Terms: Each convertible debenture can be converted into units at a price of $0.10 per unit prior to maturity, with each unit consisting of one common share and half a warrant, which is expected to enhance investor participation.
- Trigger Events: The automatic conversion of the convertible debentures will occur if the company achieves $2 million and $2.5 million in booked Annual Recurring Revenue in 2026 and 2027, respectively, aiding in improved capital liquidity for future growth.
- Related Party Transaction: The participation of a company director in this offering is classified as a related party transaction, and ProStar will rely on exemptions under MI 61-101 to ensure compliance and transparency in the transaction.
See More
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Earnings Performance: WM Technology, Inc. reported a decline in third-quarter earnings, totaling $2.46 million or $0.02 per share, down from $3.33 million or $0.03 per share last year.
Revenue Decline: The company's revenue fell by 9.4% to $42.17 million compared to $46.55 million in the same quarter last year.
Analyst Expectations: The earnings missed analysts' expectations, which had forecasted earnings of $0.04 per share.
Future Guidance: For the next quarter, WM Technology, Inc. provided revenue guidance of $41 to $43 million.
See More
Daily Upgrade Report for Validea Motley Fool Strategy - August 28, 2025
WM Technology Inc. Overview: WM Technology, Inc. operates an online cannabis marketplace and offers eCommerce and compliance software solutions for cannabis businesses, with a recent rating increase from 45% to 72% based on its fundamentals and valuation.
IES Holdings Inc. Overview: IES Holdings, Inc. is involved in designing and installing integrated electrical and technology systems, with its rating improving from 65% to 72%, indicating solid fundamentals and stock valuation.
Motley Fool's Investment Strategy: The Motley Fool strategy focuses on identifying small-cap growth stocks with strong fundamentals and price performance, where scores above 80% indicate interest in the stock.
Validea's Role: Validea provides investment research based on the strategies of renowned investors, offering stock analysis and model portfolios that aim to outperform the market over time.
See More
