5 Best Cannabis Stocks To Buy Now

3. WM Technology, Inc. (NASDAQ:MAPS)

Number of Hedge Fund Shareholders: 15

WM Technology, Inc. (NASDAQ:MAPS) was very near the top of the list of most popular cannabis stocks among hedge funds upon its Q2 2021 IPO, but has steadily lost hedge fund support since then as its shares have suffered the same fate as nearly every other cannabis stock, crumbling by 95% since February 2021.

WM Technology, Inc. (NASDAQ:MAPS), which provides software platforms for companies in the cannabis industry, has been growing its customer count at a steady rate, but saw its average revenue per client take a big hit during Q3. Its customer count rose to 5,576 in the third quarter from 4,444 a year earlier, but revenue per client fell by 20% year-over-year to $3,019.

All told, WM Technology, Inc. (NASDAQ:MAPS) suffered a slight revenue decline in Q3 despite having more than a thousand additional customers, and its profitability metrics also took a step back during the quarter. MAPS shares have crashed by 84% since April 2 to trade at just 0.42x sales and 0.91x book value, which looks dirt cheap for a company with a clean balance sheet and ample growth opportunities ahead of it.