5 Best Marijuana Stocks To Buy Now

In this article, we discuss 5 best marijuana stocks to buy now. If you want to see more stocks in this selection, check out 11 Best Marijuana Stocks To Buy Now. 

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

Number of Hedge Fund Holders: 9

WM Technology, Inc. (NASDAQ:MAPS) delivers ecommerce and compliance software solutions to retailers and brands operating in the cannabis market both in the United States and globally. The company also provides educational resources and information to assist new cannabis consumers in making informed decisions about the types of products they wish to purchase. On May 9, WM Technology, Inc. (NASDAQ:MAPS) reported a Q1 GAAP EPS of -$0.03 and a revenue of $48 million, and as of March 31, the company had a cash balance of $25.9 million with no outstanding long-term debt. It is one of the best marijuana stocks to buy. 

On March 17, Canaccord analyst David Hynes maintained a Buy rating on WM Technology, Inc. (NASDAQ:MAPS) and revised the firm’s price target for the shares to $3.00 from $4.75. The analyst expressed positive views on WM Technology, Inc. (NASDAQ:MAPS)’s Q4 results, noting their successful execution in achieving profitability and fulfilling their commitments. Hynes also mentioned that the company’s Q1 guidance indicates a continuation of these favorable trends, which are expected to extend throughout 2023.

According to Insider Monkey’s first quarter database, 9 hedge funds were long WM Technology, Inc. (NASDAQ:MAPS), compared to 15 funds in the prior quarter. Richard Mashaal’s Rima Senvest Management is the biggest stakeholder of the company, with 5.8 million shares worth about $5 million.