BitMine Immersion (BMNR) stock jumps 15% as Tom Lee pushes 50-billion share authorization vote
BitMine Immersion shares jumped 14.9% to $31.19 Friday after the company urged shareholders to approve raising its authorized share cap to 50 billion from 500 million. The vote deadline is January 14, with the annual meeting set for January 15. The company cited future stock splits and capital-raising flexibility as reasons for the proposal. Investors are watching for potential dilution and follow-on offerings.