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Is IM Cannabis Corp (IMCC) a Stock to Watch After Gaining 20.70% This Week?

Friday, November 26, 2021 10:05 AM | InvestorsObserver Analysts
Is IM Cannabis Corp (IMCC) a Stock to Watch After Gaining 20.70% This Week?

Overall market sentiment has been high on IM Cannabis Corp (IMCC) stock lately. IMCC receives a Bullish rating from InvestorsObserver Stock Sentiment Indicator.

Sentiment Score - ,bullish
IM Cannabis Corp has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on IMCC!

What is Stock Sentiment?

Sentiment uses short term technical analysis to gauge whether a stock is desired by investors. As a technical indicator, it focuses on recent trends as opposed to the long term health of the underlying company. Updates for the company such as a earnings release can move the stock away from current trends. Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor. InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon. The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.

What's Happening With IMCC Stock Today?

IM Cannabis Corp (IMCC) stock is trading at $3.79 as of 10:03 AM on Friday, Nov 26, a drop of -$0.51, or -11.78% from the previous closing price of $4.30. The stock has traded between $3.55 and $3.90 so far today. Volume today is low. So far 199,444 shares have traded compared to average volume of 276,111 shares.

More About IM Cannabis Corp

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, followed by Germany. Click Here to get the full Stock Report for IM Cannabis Corp stock.

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