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How Did The IRME Stock Rocket In The Last Session, Jumping 25%?

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IR-Med Inc. (OTCPINK: IRME) closed the last trading session at $14.990 after experiencing an increase of 24.92%, bringing its market capitalization to $95.28M. With 6.36M of outstanding shares, IR-Med stock traded 309 shares recently, less than its average daily volume of 689. Recent developments are useful for getting a better understanding of the IRME stock despite the lack of current news.

What recent events took place at IRME?

IR-Med is a company in the development stage that is handling the development and application of Artificial Intelligence (AI) and Infrared (IR) technologies. The technologies developed by IR-Med are initially designed to identify pressure injuries (PI) and ear infections early, especially in children.

IR-Med announced that its Chief Executive Officer, Limor Davidson Mund, has resigned from the organization. A personal reason caused Ms. Davidson Mund to resign. Mr. Oded Bashan, Chairman of IRME, has been appointed the interim CEO.

The company started the year by changing its name from International Display Advertising, Inc. to “IR-Med, Inc.”. In addition, the company’s ticker symbol was changed from “IDAD” to “IRME”. The corporate actions came into effect at the start of trading on January 20, 2021. Common stock now bears a CUSIP number of 46265R103.

What impact does rebranding have on IRME?

IRME announced, in December 2020, that a share exchange transaction with I.R Med Ltd., an Israeli company, had been completed, which resulted in I.R Med Ltd. becoming a wholly owned subsidiary of IRME. IR-Med (IRME) took these steps intentionally and strategically to rebrand itself. Under its new name, IRME is more closely aligned with its core business.

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