IM Cannabis Shares Surge 586% After 6:1 Consolidation: What Investors Need To Know
IM Cannabis Corp. (NASDAQ: IMCC), a leading medical marijuana company announced that its common shares are trading on a 6:1 post-consolidated basis.
This significant change follows the company’s strategic decision to reduce its outstanding shares, potentially making the stock more attractive to institutional investors and improving liquidity.
Share Consolidation Impact
The recent consolidation reduced the number of outstanding shares from 13,394,136 to 2,232,357. This reduction can lead to an increase in the per-share price, which is appealing to institutional investors looking for stable and liquid investments.
Indeed, the stock price surged over 500% following the …