Separately, Canaccord Genuity Group lowered Emerge Commerce from a buy rating to a hold rating and dropped their price target for the stock from C$1.20 to C$0.50 in a report on Tuesday.
Shares of OTC:EMCMF opened at C$0.40 on Tuesday. Emerge Commerce has a 12-month low of C$0.27 and a 12-month high of C$0.65.
Emerge Commerce Ltd. owns and operates online e-commerce marketplaces in Canada and the United States. Its principal operating e-commerce brands include truLOCAL.ca, UnderPar.com, JustGolfStuff.ca, WagJag.com, and BeRightBack.ca. The company was founded in 2016 and is headquartered in Toronto, Canada.
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