Canaccord analyst David Hynes lowered the firm’s price target on WM Technology to $4.75 from $6 and keeps a Buy rating on the shares. The analyst said industry data from California, which is over half the firm’s business, suggests that statewide licensed sales were down 10% in the quarter, so with Weedmaps essentially flat year-over-year, the firm is doing what it can in a tough market.
Published first on TheFly
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