IM Cannabis Receives NASDAQ Notification Regarding Minimum Bid Price Deficiency
Portfolio Pulse from Happy Mohamed
IM Cannabis Corp. (NASDAQ:IMCC) has received a notification from Nasdaq for not complying with the minimum bid price requirement. The company's shares have not maintained a minimum bid price of $1.00 per share for 30 consecutive business days. IMCC has until January 29, 2024, to regain compliance or it may face delisting. The notification does not affect the company's listing on the Canadian Securities Exchange.
August 04, 2023 | 8:03 pm
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NEGATIVE IMPACT
IM Cannabis Corp. is at risk of being delisted from Nasdaq if it does not regain compliance with the minimum bid price requirement by January 29, 2024.
The company's inability to maintain the minimum bid price requirement puts it at risk of being delisted from Nasdaq. This could negatively impact the company's reputation and investor confidence, potentially leading to a decrease in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100