IM Cannabis Stock Surges as Traders Weigh Nasdaq Listing and Dilution Risks
IM Cannabis Corp. shares are trading heavy again. IMCC closed at $0.2610 on June 15, up 12.31% on Nasdaq, and was last seen at $0.3491 in the premarket at 6:43 a.m. ET on June 16, according to StockAnalysis market data. The stock is moving without any fresh company updates. The company’s investor-relations site and SEC filings show the last events were a June 9 Form F-3 resale registration and a related 6-K and the June 3 financing filing. Nothing new has hit in the past day or so. IM Cannabis stock climbed, but the action looks like penny stock trading. Finviz reported 100.7 million shares traded versus a 2.30 million average. Shares are still down 89% over the last year and trade 93% below the 52-week high. These volume spikes can launch a small-cap when traders pile in, though gains may vanish just as quickly if buyers pull out.
