IM Cannabis Q4 Revenue Gross Profit Drops Due To Negative Impact Of Israel-Hamas War, Sees Germany As Growth Opportunity
| IMCC Stock | USD 3.99 0.30 8.13% |
About 64% of all Im Cannabis' shareholders are looking to take a long position. The analysis of the overall investor sentiment regarding Im Cannabis Corp suggests that some traders are interested. The current market sentiment, together with Im Cannabis' historical and current headlines, can help investors time the market. In addition, many technical investors use Im Cannabis Corp stock news signals to limit their universe of possible portfolio assets.
IMCC |
IM Cannabis Corp. announced on Thursday its financial and operational results for the year ended Dec. 2023. The Toronto-headquartered medical cannabis company with a focus on Israel and Germany reported a 10 percent year-over-year decrease in revenue to CA48.8 million in 2023. IM Cannabis attributed it to negative currency fluctuations and the impact of the Israel-Hamas war on the companys operations. Fourth quarter revenue dropped 26 percent year-over-year to CA10.7 million. As previously warned and as expected, unfortunately, the Israel-Hamas war had a negative impact on our fourth quarter 2023 results, which weighed on our full-year results., Uri Birenberg, chief financial officer of IMC, said. Coupled with our fourth quarter of 2023 inventory reduction, the war caused our fourth quarter gross profit to decrease by 68 percent as compared to the fourth quarter of 2022.
Read at benzinga.com
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Im Cannabis Investor Sentiment by Other News Outlets
Investor sentiment, mood or attitude towards Im Cannabis can have a significant impact on its stock price or the market as a whole. This sentiment can be positive or negative, and various factors, such as economic indicators, news events, or market trends, can influence it. When investor sentiment is positive, investors are more likely to buy stocks, increasing demand and increasing the stock price. Positive investor sentiment can be driven by good news about the company or the broader market, such as solid earnings reports or positive economic data.
Note that negative investor sentiment can cause investors to sell stocks, leading to a decrease in demand and a drop in the stock price. Negative sentiment can be driven by factors such as poor earnings reports, negative news about the company or industry, or broader economic concerns. It's important to note that investor sentiment is just one of many factors that can affect stock prices. Other factors, such as company performance, industry trends, and global economic conditions, can also play a significant role in determining the value of a stock.
Im Cannabis Fundamental Analysis
We analyze Im Cannabis' financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Im Cannabis using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Im Cannabis based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
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Target Price Comparative Analysis
Im Cannabis is currently under evaluation in target price category among its peers.
Im Cannabis Corp Potential Pair-trading
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Im Cannabis stock to make a market-neutral strategy. Peer analysis of Im Cannabis could also be used in its relative valuation, which is a method of valuing Im Cannabis by comparing valuation metrics with similar companies.
Peers
Im Cannabis Related Equities
| ELDN | Eledon Pharmaceuticals | 9.39 | ||||
| CNTB | Connect Biopharma | 2.91 | ||||
| ABOS | Acumen Pharmaceuticals | 0.44 | ||||
| NUVB | Nuvation Bio | 0.35 | ||||
| REPL | Replimune | 0.21 | ||||
| CELC | Celcuity LLC | 0.39 | ||||
| INBX | Inhibrx | 2.37 | ||||
| ELVN | Enliven Therapeutics | 4.05 | ||||
| NVCT | Nuvectis Pharma | 4.55 | ||||
| ELYM | Eliem Therapeutics | 5.88 |
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