IM Cannabis Corp Up 9.65% To $0.46 After Earnings

IM Cannabis Corp (IMCC) beat out earnings estimates for Q4 2023 this morning.

reported that it broke-even during the quarter.

Revenues were downbeat at $0.00. Keep in mind that the revenues reported were on an adjusted basis, so they may not be directly comparable to estimates and prior periods.

The stock is up 9.65% to $0.46 after the report.

IM Cannabis Corp's profit margins maintained as both earnings and revenue declined at the same pace.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned IM Cannabis Corp a Neutral Sentiment Rank from InvestorsObserver.

IM Cannabis Corp has performed a little below average during the past few months. Before the report, IM Cannabis Corp received a Long-Term Technical Rank by InvestorsObserver of 31, putting it in the bottom half of stocks. The firm was recently trading at a 52-week low of $0.19 on January 23, 2024 and set a 52-week high on May 31, 2023 at $1.43.

IM Cannabis Corp is a Canada-based international medical cannabis company. It offers government-licensed cannabis products, from generic to GMP-certified and pharmaceutical-grade, for both wholesale and retail clients. The majority of its revenues are generated from sales of medical cannabis products to customers in Israel and recreational cannabis in Canada. The remaining revenues are generated from sales of medical cannabis, as well as other products, to customers in Germany.