IM Cannabis Corp [IMCC] stock is trading at $0.86, down -20.37%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The IMCC shares have gain 62.26% over the last week, with a monthly amount glided 171.64%, and seem to be holding up well over a long-time horizon.
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On 4, April 2024, Avant Brands Bolsters International Growth in German Cannabis Market Through Partnership with IMC. In a post published today on Yahoo Finance, Avant Brands Inc. (TSX:AVNT)(OTCQX:AVTBF)(FRA:1BU0) (“Avant” or the “Company”), a leading producer of innovative and award-winning cannabis products and IM Cannabis Corp. (CSE:IMCC)(NASDAQ:IMCC) (the “Company”, “IMCannabis”, or “IMC”), a leading medical cannabis company with operations in Israel and Germany, are pleased to announce the signing of an International Trademark Licensing Agreement (the “Licensing Agreement”) granting IMC’s German subsidiary, Adjupharm GmbH (“Adjupharm”), the exclusive right to launch Avant’s flagship brand, BLK MKT™ brand in the German cannabis market. The Licensing Agreement constitutes a significant expansion of the relationship between the two industry-leading cannabis companies.
From an analyst’s perspective:
IM Cannabis Corp [NASDAQ: IMCC] stock has seen the most recent analyst activity on October 05, 2021, when ROTH Capital initiated its Buy rating and assigned the stock a price target of $8.
IM Cannabis Corp [IMCC] stock has fluctuated between $0.19 and $1.43 over the past year. IM Cannabis Corp [NASDAQ: IMCC] shares were valued at $0.86 at the most recent close of the market.
Analyzing the IMCC fundamentals
IM Cannabis Corp [NASDAQ:IMCC] reported sales of 36.65M for the trailing twelve months, which represents a drop of -26.26%. Gross Profit Margin for this corporation currently stands at 0.22% with Operating Profit Margin at -0.18%, Pretax Profit Margin comes in at -0.18%, and Net Profit Margin reading is -0.18%. To continue investigating profitability, this company’s Return on Assets is posted at -0.27, Equity is -0.67 and Total Capital is -0.84. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.9.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 0.6574 points at the first support level, and at 0.4548 for the second support level. However, for the 1st resistance point, the stock is sitting at 1.1563, and for the 2nd resistance point, it is at 1.4526.
IM Cannabis Corp [IMCC] reported earnings per share of -$0.25 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.17/share, meaning a difference of -$0.08 and a surprise factor of -47.10%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were -$0.16 per share as compared to estimates of -$0.21 per share, a difference of $0.05 representing a surprise of 23.80%.
Ratios To Look Out For
For context, IM Cannabis Corp’s Current Ratio is 0.74. As well, the Quick Ratio is 0.41, while the Cash Ratio is 0.06. Considering the valuation of this stock, the price to sales ratio is 0.31, the price to book ratio is 1.05.
