International Medical Marijuana Operator Gets NASDAQ Warning As Stock Price Drops Below $1
Portfolio Pulse from Joana Scopel
IM Cannabis Corp. (NASDAQ:IMCC) has received a warning from NASDAQ as its stock price fell below the $1 minimum bid price requirement. The company has until January 29, 2024, to regain compliance or face potential delisting. The company's shares bounced back above the $1 mark on August 2, but must maintain a closing bid price of no less than $1 for a minimum of 10 business days to regain compliance. IM Cannabis Corp. is known for supplying medical cannabis primarily to clients in Israel and Germany.
August 07, 2023 | 8:22 pm
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IM Cannabis Corp. (NASDAQ:IMCC) has received a warning from NASDAQ due to its stock price falling below the $1 minimum bid price requirement. The company has until January 29, 2024, to regain compliance or face potential delisting.
The news of the NASDAQ warning and potential delisting is directly related to IM Cannabis Corp. and its stock price. This negative news could lead to a decrease in investor confidence and a potential drop in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100