It is somewhat of a just deserts scenario the company was built on bending the rules and now it looks as though it has all caught up with them.
Weedmaps parent company WM Technology said it would voluntarily delist from the Nasdaq stock exchange later this month.
After going public in 2021 and reaching an all time high above $29 per share, the stock has struggled and currently trades for around 40 cents per share.
According to a statement, the company’s decision was affected by several factors including constraints on serving cannabis operators while listed on Nasdaq and struggles the company has faced achieving long term value creation.
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Newsbrief: Weedmaps parent voluntarily delisting from Nasdaq
