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Sunday, July 3, 2022

IMAC Holdings, Inc. (IMAC) Stock Dropped off PreMarket on Profit Booking.

IMAC Holdings, Inc. (IMAC) possesses and manages health and wellness centers offering therapeutics for movement restricting disorders. Its shares price rose by 19.0% to remain at $1.19 at the closing of Thursday’s regular trading. The price dipped in today’s premarket session by 7.56%. The current stock price as of the writing stands at $1.10.


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IMAC: Recent Developments

IMAC stated on April 7 its accomplishment the completion of the pilot program for the selected Walmart stores’ The BackSpace retail chiropractic concept. The company is affirming its commitment to triple the number of its stores with the addition of approximately 20 locations over the coming year. The company also pledged its goal to add a greater number of stores over the coming three years. The new stores, as anticipated by the company, will be an amalgamation of corporate and The Back Company to address the ever-increasing market demand.

IMAC: Industry Outlook

The healthcare sector, more specifically the regenerative rehabilitation industry is relatively new in terms of its patient number and approximate revenue. In the coming decade, it has much wider potential (an approximate increase of $13 billion to $172 billion will be observed) with the increase in patient numbers with multiple injuries and the ever-increasing demand for regenerative tissue-based surgeries. One of the factors influencing this sector includes rising inflation which is a constant threat to economic growth. The healthcare sector will see much more inflation in the coming years.

IMAC: Company Outlook

IMAC is essentially a penny stock and investors should keep into consideration its volatile nature. Analysts observed that investing in the company has certain risk factors associated with it since its capability to make constant profits is not established yet. The company’s revenue surged by 12% over the year (from 2020 to 2021) amidst the pandemic, which indicates the explosive potential of this industry.

Conclusion

IMAC shares inclined 7% year-to-date as the pandemic restrictions are coming to ease. The company’s stock dropped off in today’s premarket in wake of profit booking by the investment firms. Its price rose impressively as the successful completion of its Walmart Pilot Program was announced.

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