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IM Cannabis Corp (IMCC) – Don’t Be So Quick to Call it Dead

IM Cannabis Corp (NASDAQ: IMCC) is 172.89% higher on its value in year-to-date trading and has touched a low of $0.19 and a high of $1.43 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The IMCC stock was last observed hovering at around $0.76 in the last trading session, with the day’s gains setting it 0.21%.

Currently trading at $0.97, the stock is 148.98% and 196.72% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.76 million and changing 28.79% at the moment leaves the stock 73.29% off its SMA200. IMCC registered 36.06% gain for a year compared to 6-month loss of 43.26%. The firm has a 50-day simple moving average (SMA 50) of $0.39 and a 200-day simple moving average (SMA200) of -$6.83.

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The stock witnessed a 210.25% gain in the last 1 month and extending the period to 3 months gives it a 186.45%, and is 113.83% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 38.15% over the week and 23.54% over the month.

IM Cannabis Corp (IMCC) has around 95 employees, a market worth around $13.04M and $36.65M in sales. Profit margin for the company is -17.37%. Distance from 52-week low is 415.45% and -31.87% from its 52-week high. The company has generated returns on investments over the last 12 months (-53.53%).

IM Cannabis Corp quarterly earnings per share for the current quarter are estimated at -$0.14 with sales reaching $11.8M over the same period.The EPS is expected to grow by 37.21% this year, but quarterly earnings will post 9.50% year-over-year. Quarterly sales are estimated to shrink -10.40% in year-over-year returns.

18 institutions hold shares in IM Cannabis Corp (IMCC), with institutional investors hold 12.75% of the company’s shares. The shares outstanding are 13.39M, and float is at 8.56M with Short Float at 0.49%. Institutions hold 8.15% of the Float.

The top institutional shareholder in the company is Lynwood Capital Management Inc. with over 0.55 million shares valued at $0.5 million. The investor’s holdings represent 4.11% of the IMCC Shares outstanding. As of Jun 29, 2023, the second largest holder is Black Maple Capital Management Lp with 0.4 million shares valued at $0.37 million to account for 3.02% of the shares outstanding. The other top investors are AdvisorShares Investments, LLC which holds 0.23 million shares representing 1.74% and valued at over $0.21 million, while Bank of Montreal/Can/ holds 0.56% of the shares totaling 75604.0 with a market value of $69412.0.

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