Israeli Police Seize Record 137,000 Cannabis Plants In Largest Operation Ever
Portfolio Pulse from Maureen Meehan
Israeli police have seized 137,550 cannabis plants in one of the largest operations in the country's history. The operation, which lasted three days, involved raids on 169 greenhouses in the Negev desert region and 160 greenhouses in an IDF firing range. The seized cannabis is estimated to be worth hundreds of millions of shekels. The operation is seen as a significant blow to criminals who could have used the proceeds to finance their activities. The news comes as Israel, a major player in cannabis production and research, announced a comprehensive reform of its medical marijuana regulations.
August 19, 2023 | 1:30 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
IM Cannabis Corp., the first Israeli medical cannabis company to debut on the NASDAQ, may be indirectly affected by the large-scale cannabis seizure. The company's CEO, Oren Shuster, recently praised the Israeli Ministry of Health's overhaul of cannabis regulation.
While IM Cannabis Corp. is not directly involved in the seizure, the event highlights the regulatory environment in which the company operates. The company's CEO has recently praised the Israeli Ministry of Health's overhaul of cannabis regulation, indicating that the company is closely following regulatory developments.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50