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

1.82

Mkt cap

5.5M

Volume

15K

High

1.99

P/E Ratio

-0.44

52-wk high

8.10

Low

1.74

Div yield

N/A

52-wk low

1.61

The federal government is threatening to make it more difficult for medical marijuana patients to obtain state gun permits in Arkansas. This could potentially impact the sales of firearms manufacturers and retailers.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 6:55 pm

A GOP senator has urged Senator Schumer to stop prioritizing a marijuana banking bill, while another senator is planning to inflate criminal justice amendment plans. This could potentially impact the operations of marijuana-related companies.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 7:54 pm

The U.S. Senate Banking Committee has approved the Secure and Fair Enforcement Regulation (SAFER) Banking Act, which aims to make it safer for legal cannabis businesses to operate. The bill, which has bipartisan support, will now move to the Senate floor for further consideration. The legislation is not seen as a step towards legalization, but rather a means to address the risks associated with the current all-cash model of legal cannabis businesses.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 2:21 pm

Senate Majority Leader Chuck Schumer has committed to advancing a revised marijuana banking bill, the Secure and Fair Enforcement Regulation (SAFER) Banking Act, which will allow cannabis businesses to accept credit and debit cards. Schumer also plans to include the Harnessing Opportunities by Pursuing Expungement (HOPE) Act and Gun Rights and Marijuana (GRAM) Act in the final legislation. The HOPE Act incentivizes states to expunge cannabis records, while the GRAM Act allows medical cannabis patients to purchase and possess firearms. The bill also includes provisions to increase access to deposit accounts for businesses and customers, especially those in rural, low-income areas, Tribal communities, and unbanked businesses and consumers.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 4:30 pm

A revised bipartisan marijuana banking bill, the Secure and Fair Enforcement Regulation (SAFER) Banking Act, has been filed in the Senate. The bill aims to give legal cannabis businesses access to traditional financial institutions, including bank accounts and small business loans. The legislation also requires federal banking regulators to work with state banking supervisors and the secretaries of commerce and treasury to form rules or guidance to increase access to deposit accounts for businesses and customers. The bill is set to receive a markup in the Senate Banking Committee on September 27.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 3:47 pm

Bipartisan lawmakers have reportedly found a 'sweet spot' in negotiations over a marijuana banking bill, agreeing to leave a section favored by Republicans intact. The Secure and Fair Enforcement (SAFE) Banking Act is set for a committee vote next week. The bill could have significant implications for the cannabis industry, potentially easing banking regulations and allowing for stock uplisting. The American Trade Association for Cannabis and Hemp (ATACH) and the American Bankers Association (ABA) have both called for the passage of the legislation.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 3:29 pm

The Financial Crimes Enforcement Network (FinCEN) reports a record-high 812 banks and credit unions are now working with the cannabis industry in Q2 2023, up from 807 in Q1 and 773 in the previous quarter. This increase could be due to more states launching adult-use marijuana programs and financial institutions becoming more comfortable with cannabis clients as bipartisan congressional lawmakers work to enact the Secure and Fair Enforcement (SAFE) Banking Act. The Senate Banking Committee has scheduled a vote on the cannabis legislation for next week.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 12:55 pm

Bipartisan talks over the Secure and Fair Enforcement (SAFE) Banking Act, a marijuana banking bill, have been productive during the August recess, according to the office of the lead GOP Senate sponsor. The legislation, which aims to protect banks and credit unions from being penalized by federal regulators for working with state-licensed cannabis businesses, could move to a vote soon. However, disagreements over one key section of the bill that some Democrats believe would undermine banking regulations could prevent it from advancing.

Portfolio Pulse from Happy Mohamed

September 07, 2023 | 2:55 pm

Senate Banking Committee Chairman Sherrod Brown plans to advance the Secure and Fair Enforcement (SAFE) Banking Act, a key marijuana banking legislation, within the next six weeks. The Act, which has bipartisan support, aims to protect banks and credit unions from federal penalties for working with state-licensed cannabis businesses. However, its passage is contingent on several factors, including disagreements over certain sections of the bill. The Act has 42 cosponsors, including eight Republicans and three independents, and is expected to reach the 60-vote threshold needed for passage in the Senate.

Portfolio Pulse from Happy Mohamed

September 06, 2023 | 3:15 pm

Cannabis stocks are trading higher following the Health and Human Services' (HHS) call to reclassify marijuana as a lower-risk drug. This includes stocks such as ACB, AKAN, CGC, CRON, GRWG, IGC, IMCC, KERN, LFLY, SNDL, and TLRY.

Portfolio Pulse from Bill Haddad

August 31, 2023 | 2:22 pm

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