Streetbeat News

IMCC

IM Cannabis Corp.

https://www.imcannabis.com

Industry

Drug Manufacturers - Specialty & Generic

IM Cannabis Corp. engages in breeding, growing, and supply of medical cannabis products in Israel, Germany, and Canada. It offers cannabis flowers and strain specific cannabis extracts under the IMC brand; and dried flower, pre-rolls, and pressed hash offerings under the WAGNERS and Highland Grow brands. The company serves medical patients and adult-use recreational consumers. IM Cannabis Corp. is headquartered in Tel Aviv-Yafo, Israel.

Open

1.92

Mkt cap

4.4M

Volume

26K

High

2.02

P/E Ratio

-0.43

52-wk high

8.10

Low

1.85

Div yield

N/A

52-wk low

1.13

IM Cannabis reported its Q2 2024 financial results with a GAAP EPS of C$(0.23) and sales of C$14.8 million.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 12:02 pm

Roger Stone, a longtime ally of former President Donald Trump, believes that Trump's endorsement of a Florida marijuana legalization initiative would guarantee its victory. Trump has yet to take a definitive stance but has indicated he will make a statement soon. The initiative, Amendment 3, has mixed support and opposition, with significant financial backing on both sides. The measure would allow adults 21 and older to purchase and possess cannabis, potentially generating significant tax revenue for the state.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 3:43 pm

Several cannabis companies, including IM Cannabis, cbdMD, Entourage Health, and Organigram Holdings, are set to report their earnings for the second quarter of 2024. IM Cannabis will discuss its results and recent share consolidation plan, cbdMD will address its operational losses and cost-cutting measures, Entourage Health will provide an update on its financial health, and Organigram Holdings will report its earnings and discuss its strategic investments in the European market.

Portfolio Pulse from Jelena Martinovic

August 06, 2024 | 5:22 pm

IM Cannabis Corp. (NASDAQ:IMCC) has regained compliance with Nasdaq's minimum bid price requirement, ensuring its continued listing on the NASDAQ Stock Market.

Portfolio Pulse from Benzinga Newsdesk

July 29, 2024 | 12:31 pm

European cannabis companies are planning IPOs on Nasdaq, driven by potential regulatory changes in the US and Germany. Companies like Grow Group, Somai Pharmaceuticals, and Wellford Medical are eyeing Nasdaq listings. US companies Curaleaf and Trulieve could benefit from tax breaks if cannabis is rescheduled to Schedule III. IM Cannabis and InterCure are also poised for growth in the European market.

Portfolio Pulse from Nicolás Jose Rodriguez

July 18, 2024 | 7:25 pm

President Biden announced on X that he is ensuring no one goes to jail for mere use or possession of marijuana and that their records should be expunged. This move aims to address historic wrongs related to marijuana convictions.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 2:22 pm

IM Cannabis Corp. (NASDAQ:IMCC) has announced a major share consolidation plan, converting every six pre-consolidated shares into one post-consolidated share, effective July 12, 2024. This move aims to enhance the stock's marketability and align with strategic financial goals. Post-consolidation, the number of common shares will decrease significantly. The company's shares were trading 3.96% lower at $0.4485 per share at the time of the announcement.

Portfolio Pulse from Patricio Liddle

July 05, 2024 | 3:02 pm

Lifeist Wellness Inc. has sold its Australian subsidiary, Australian Vaporizers Pty Ltd., to Flora Growth Corp. for CA$900,000, payable in Flora's common shares. IM Cannabis Corp. is strengthening its supply chain in Germany following recent cannabis legalization. Flora Growth's shares fell by 1.73%, and IM Cannabis shares dropped by 4.20% following the news.

Portfolio Pulse from Jelena Martinovic

June 05, 2024 | 5:48 pm

IM Cannabis Corp. (NASDAQ:IMCC) is experiencing accelerated growth in Germany due to a new supply agreement with EU-GMP certified Glasshouse Botanics. This partnership strengthens IMC's supply chain and supports its expansion following partial legalization in Germany.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 12:33 pm

IM Cannabis Corp. (NASDAQ:IMCC) has announced the termination of a preliminary term sheet with Kadimastem Ltd. The company is focusing on maximizing shareholder value, especially with accelerated growth in Germany following legalization.

Portfolio Pulse from Benzinga Newsdesk

May 28, 2024 | 12:46 pm

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