IM Cannabis Corp. (NASDAQ: IMCC) (CSE: IMCC) reported a meaningful turnaround in its fourth quarter 2024, capping a year of repositioning with 25% revenue growth and its first quarterly adjusted EBITDA profit in recent history. The medical cannabis company, which is jointly headquartered in Canada and Israel, generated C$13.3 million …
Tag: Investing
Planet 13 pumps the brakes on expansion, keys in on Florida
Las Vegas-based Planet 13 Holdings (CSE: PLTH) (OTCQX: PLNH) slowed its roll to accommodate industry setbacks, including the November loss of recreational marijuana legalization in Florida and “ongoing industry-wide price compression,” company leadership said during its quarterly earnings call last week. That means less rapid expansion and probably not as …
Chief medical marijuana regulator in Virginia steps down
On Wednesday, the Virginia Cannabis Control Authority announced that its acting chief of more than three years was stepping down. Jeremy Preiss, who has served as the CCA’s acting head and chief officer of regulatory, policy and external affairs since January 2022, will be replaced by Chief Administrative Officer Jamie …
Michigan cannabis company calls regulators ‘ruthless’ as it agrees to shut down, exit industry
This article was reprinted with permission from Crain’s Detroit Business. Hazel Park, Michigan, marijuana processor Flavor Galaxy shuttered operations after reaching a deal with regulators over its alleged use of illicitly grown marijuana in its products. But another year will go by before Flavor Galaxy’s owners exit the industry voluntarily …