IM Cannabis Corp. (NASDAQ:IMCC) Shares Shorted: Short Interest Down 51.6% in October

IM Cannabis Corp. (NASDAQ:IMCC) was the target of a large drop in short interest in October. As of October 15th, there was short interest totaling 36,121 shares, a drop of 51.6% from the September 30th total of 74,661 shares. Based on an average daily trading volume, of 121,192 shares, the short-interest ratio is presently 0.3 days. Currently, 3.6% of the company’s stock are sold short.

Wall Street Analyst Weigh In

IMCC has been the topic of a number of analyst reports. Wall Street Zen downgraded shares of IM Cannabis to a “strong sell” rating in a research report on Saturday, October 10th. Weiss Ratings reissued a “sell (e+)” rating on shares of IM Cannabis in a research report on Monday, October 19th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company currently has an average rating of “Sell”.

IM Cannabis Stock Down 12.7%

Shares of IM Cannabis stock traded down $0.12 during trading on Friday, reaching $0.79. The company’s stock had a trading volume of 27,376 shares, compared to its average volume of 893,028. IM Cannabis has a 1-year low of $0.76 and a 1-year high of $62.40. The company has a 50-day simple moving average of $2.17 and a two-hundred day simple moving average of $11.71. The company has a market cap of $784,672.00, a price-to-earnings ratio of -0.01 and a beta of 2.21.

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

About IM Cannabis

IM Cannabis Corp. (NASDAQ: IMCC) is a medical cannabis company focused primarily on the Israeli and German markets. The company develops, sources, imports, distributes and markets medical cannabis products under the IMC brand, serving patients through pharmacies, clinics and other authorized channels.

In Israel, IM Cannabis is involved in the supply of medical cannabis products, including flower and other cannabis-based offerings, through affiliated cultivation, processing and distribution operations.