IM Cannabis Corp (NASDAQ:IMCC) shares, rose in value, with the stock price up by 84.13% to the previous day’s close as strong demand from buyers drove the stock to $4.99.
Actively observing the price movement in the last trading, the stock closed the session at $2.71. Referring to stock’s 52-week performance, its high was $4.49, and the low was $1.29. On the whole, IMCC has fluctuated by 232.67% over the past month.
With the market capitalization of IM Cannabis Corp currently standing at about $15.42 million, investors are eagerly awaiting this quarter’s results, scheduled for in June.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that IMCC’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium-term indicators have put the stock in the category of 50% Sell while long-term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the price of IMCC currently trading nearly 163.37% and 195.61% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 91.08, while the 7-day volatility ratio is showing 28.63% which for the 30-day chart, stands at 16.41%. Furthermore, IM Cannabis Corp (IMCC)’s beta value is 1.60, and its average true range (ATR) is 0.51.
A comparison of IM Cannabis Corp (IMCC) with its peers suggests the former has fared considerably weaker in the market. IMCC showed an intraday change of 84.13% in last session, and over the past year, it grew by 38.45%%.
Data on historical trading for IM Cannabis Corp (NASDAQ:IMCC) indicates that the trading volumes over the past 3 months, they’ve averaged 62.70K. According to company’s latest data on outstanding shares, there are 3.09 million shares outstanding.
Nearly 39.78% of IM Cannabis Corp’s shares belong to company insiders and institutional investors own 3.37% of the company’s shares. The stock has risen by 114.06% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the IMCC stock heading into the next quarter.
