International medical marijuana operator IM Cannabis Corp. has become the latest in the industry to receive a warning from the Nasdaq stock exchange over a share price falling below the exchange’s minimum bid price requirement.
IM Cannabis’ Nasdaq-traded shares (IMCC) fell below the exchange’s $1 minimum bid-price requirement for 30 consecutive business days as of July 31, the Glil Yam, Israel-based company disclosed in a news release.
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Nasdaq-listed shares of IM Cannabis closed above $1 on Aug. 2.
IM Cannabis supplies medical cannabis to clients in Israel and Germany. Earlier this year, IM Cannabis exited the Canadian market and reorganized its business.
The company’s shares will have to maintain a closing bid price of at least $1 for at least 10 consecutive business days to regain compliance with Nasdaq’s listing rules.
“In the event the company does not regain compliance by January 29, 2024, the
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