Therefore, you may wish to see our free collection of interesting prospects boasting favorable financials. Of course this may not be the best stock to buy. Be aware that Silver Spike Acquisition Corp II is showing 1 warning sign in our investment analysis, you should know about. But to understand Silver Spike Acquisition Corp II better, we need to consider many other factors. It's always worth thinking about the different groups who own shares in a company. This level of ownership gives investors from the wider public some power to sway key policy decisions such as board composition, executive compensation, and the dividend payout ratio. The general public - including retail investors - own 58% of Silver Spike Acquisition Corp II. A good next step would be to check how much the CEO is paid. It is unusual not to have at least some personal holdings by board members, so our data might be flawed. We note our data does not show any board members holding shares, personally. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions. © 2023 NYP Holdings, Inc.I generally consider insider ownership to be a good thing. But weed stocks have seen dramatic surges in both directions as investors try to gauge the possibility and timing of federal legalization. “Our partnership with Silver Spike will provide us a stronger platform to advance our mission to advocate for legalization, social equity and licensing in many jurisdictions.”Īfter it became clear in early November that five more states had legalized cannabis and Joe Biden had won the presidential election, weed companies saw their share prices skyrocket.
“We passionately believe in the power of cannabis and the importance of enabling safe, legal access to cannabis for consumers worldwide,” WeedMaps CEO, Chris Beals said in a statement. Still, WeedMaps’ future is just as much linked to efforts to legalize pot nationwide as companies that grow or dispense weed. New York Democrats mull legalizing weed, taxing the rich amid COVID money crunchĬalifornia-based WeedMaps, however, strictly offers users information about and reviews of cannabis dispensaries, so it is exempt from these restrictions. While some big pot producers like Aurora Cannabis and Canopy Growth now trade on the NYSE or Nasdaq, they first listed in their native Canada before entering US markets via an acquisition or by filing applications proving they had no US-based operations and were in good legal standing North of the border. Its rare for pot companies to get their start on a US stock exchange because there are hurdles for businesses involved in selling marijuana, or “plant touching,” to also sell shares in the US. The deal means it’s parent company will take over Silver Spike’s Nasdaq listing with its own ticker symbol, thus subverting the typical IPO process. WeedMaps is essentially Yelp for people looking toke up. The stock ended the day up 24 percent to $16.14 a share. Investors sent the stock up as much as 42 percent after the company, formed last year to raise money to buy real businesses, said it has reached a $575 million deal with WeedMaps’ parent company, WM Holding Co., to merge in a transaction that will value the new entity at $1.5 billion. took off Thursday after it announced plans to merge with cannabis review platform WeedMaps. Shares of blank-check company Silver Spike Acquisition Corp. NY Republicans move to ban public pot smoking over its ‘pungent odor’Ģ.7M New Yorkers consume marijuana at least once a month: officials NYC’s first weed shop lands ‘excellent’ $12M in sales in six monthsĬouples are taking things higher with cannabis-themed weddings
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