IM Cannabis (NASDAQ:IMCC) Cut to Strong Sell at Wall Street Zen

Wall Street Zen cut shares of IM Cannabis (NASDAQ:IMCC) to a strong sell rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of IM Cannabis in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company has an average rating of “Sell”.

IM Cannabis Stock Down 7.6%

Shares of IMCC opened at $1.46 on Friday. The business’s 50 day moving average price is $2.79 and its 200-day moving average price is $5.81. IM Cannabis has a 52 week low of $1.40 and a 52 week high of $77.10. The stock has a market cap of $306,600.00, a P/E ratio of -0.02 and a beta of 2.21.

IM Cannabis (NASDAQ:IMCC) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.34) earnings per share (EPS) for the quarter. The business had revenue of $5.34 million during the quarter.

IM Cannabis Company Profile

IM Cannabis Corp. is a medical cannabis company focused on the cultivation, importation, distribution and sale of cannabis products. The company markets products under the IMC brand and serves patients through regulated medical cannabis channels.

IM Cannabis operates primarily in Israel and Germany. In Israel, the company’s activities include supplying medical cannabis products through pharmacies and other authorized distribution channels. In Germany, it participates in the medical cannabis market through the importation and distribution of pharmaceutical-grade products.

The company was established in 2018 and has developed its business through subsidiaries and strategic partnerships in its target markets.