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TORONTO/GLIL YAM - IM Cannabis Corp. (NASDAQ:IMCC), a medical cannabis company with a market capitalization of $12.5 million, has regained compliance with Nasdaq’s minimum stockholders’ equity requirement, the company announced Friday. According to InvestingPro data, the stock has experienced significant volatility, declining over 11% in the past week.
The medical cannabis company, which operates in Israel and Germany, received notice from Nasdaq on September 4 that it now meets the exchange’s Listing Rule 5550(b)(1), which requires listed companies to maintain stockholders’ equity of at least $2.5 million.
Following this development, IM Cannabis will continue to be listed and traded on the Nasdaq Capital Market without interruption.
The company describes itself as an international cannabis provider that supplies premium cannabis products to medical patients in Israel and Germany, which it identifies as two of the largest medical cannabis markets globally.
IM Cannabis operates through subsidiaries in Israel that import and distribute cannabis to medical patients, while in Germany, it distributes cannabis to pharmacies through Adjupharm GmbH.
The information in this article is based on a company press release statement.
In other recent news, IM Cannabis Corp reported its Q1 2025 earnings, revealing a net loss per share of $0.09 and revenues amounting to $12.7 million. This represented a 4% increase in revenue compared to the previous year. However, the earnings fell short of analysts’ expectations, prompting a notable market reaction. The company is also undergoing a strategic shift towards the German market. These developments have drawn significant attention from investors. While the earnings report highlighted some positive growth in revenue, the overall financial performance did not meet projections. Consequently, the company’s strategic decisions and financial results have become focal points for stakeholders.
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