India, May 28 -- IM Cannabis Corp. (IMCC) surged 50.77 percent to $2.80 on Wednesday, gaining $0.94, after the company announced it has applied for a voluntary delisting of its common shares from the Canadian Securities Exchange. The stock opened at $2.18 and traded between $2.11 and $3.00 during the session on the Nasdaq. It previously closed at $1.86. Trading volume surged to 1.55 million shares, significantly above its average of 11,125. IMCC's 52-week trading range is $1.29 to $4.49.
The move is intended to streamline its capital markets presence and reduce regulatory costs. The company's shares will continue to trade on the NASDAQ under the symbol "IMCC."
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