Executive Chairman of IM Cannabis, Marc Lustig, has acquired 129% more stock in the company, spending CA$826,000 on shares. This move suggests confidence in IM Cannabis and its future prospects. Over the past year, CEO and Director Oren Shuster’s purchase of CA$1.4 million in shares, at a price of CA$1.67 per share, also indicates a belief in the company’s future. In fact, insiders own 31% of the company’s shares, worth CA$4.1 million. While this is not considered an outstanding level of insider ownership, it indicates a degree of alignment between the company’s management and its smaller shareholders. However, investors should take note that IM Cannabis didn’t make a profit in the last twelve months. Nonetheless, the recent insider purchases coupled with long-term transactions reflect high confidence levels in the company. It is important to note the risks associated with the stock.
For more comprehensive analysis including fair value estimates, dividends, insider transactions, and financial health of IM Cannabis, investors may check out Simply Wall St’s free analysis. Investors may also wish to view Simply Wall St’s collection of high-quality companies to further identify potential stocks to buy.