MJ Biz reports..

Cannabis advertising giant Weedmaps hopes to boost its revenue over the next three years by a whopping 175% – and investors are wagering the California-based company can deliver on that goal.

Since announcing its acquisition of Weedmaps on Dec. 10, Silver Spike Acquisition Corp. has seen its shares more than double, resulting in a Weedmaps valuation at 21 times sales and 98 times EBITDA for 2020.

The stock – which trades as SSPK on the Nasdaq – climbed another 22% after the company filed a Form S-4 with the U.S. Securities and Exchange Commission on Jan. 19, which included audited financials and more detail about the deal and company operations. 

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Cannabis firm Weedmaps aims for 175% revenue growth via higher ad prices, wider footprint