PMGC Holdings Stock Rises 17% Over Announcement Of LOI To Acquire US-Based Firm

(RTTNews) - PMGC Holdings Inc. (ELAB) shares climbed 17.28 percent, or $2.54, after the company announced it had signed a non-binding Letter of Intent to acquire a U.S.-based electronics contract manufacturing firm with over four decades of operations and positive cash flow.

The stock is currently trading at $2.5099, compared to a previous close of $2.17 on the Nasdaq. Shares opened at $2.60 and have traded between $2.29 and $3.12 so far today, with volume surging to 26.2 million shares.

PMGC's 52-week range spans from $1.9450 to an anomalous high of $939.40, likely reflecting a recent reverse split or data error. The proposed acquisition reflects PMGC's strategy to expand its portfolio through established, revenue-generating businesses.