SciSparc (SPRC) stock saw a massive rally on Wednesday following an update on the clinical-stage pharmaceutical company’s merger plan with AutoMax Motors. AutoMax Motors, an Israeli car importer, filed to delay the merger proceedings until September 30, 2025, or until a notice is filed with the Jerusalem District Court showing that the conditions for the merger can’t be satisfied, whichever comes first.
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AutoMax Motors filed for the delay due to concerns that it can’t complete the merger conditions required to combine with SciSparc. The company noted that this is due to recent developments related to its business operations. This has called into question whether the merger will go through.
SciSparc and AutoMax Motors entered into a merger agreement on April 10, 2024. The merger plans continued over the next several months, with SciSparc shareholders having approved the merger in August 2025. While this appeared to clear the way for the merger between the two companies, the latest filing from AutoMax Motors has some traders wondering if the plan will reach completion.
SciSparc Stock Movement Today
SciSparc stock was up 130.98% on Wednesday, following a 2.22% rally yesterday. However, the shares have fallen 75.66% year-to-date and 69.73% over the past 12 months. Traders will also note that SPRC stock has decreased significantly from the $37.49 it traded for when the merger was announced. For comparison, the stock closed Tuesday at $1.84 and traded for roughly $4.25 in pre-market hours today.
Today’s news brought with it heavy trading of SciSparc stock. More than 21 million shares have changed hands as of this writing, compared to a three-month daily average of about 702,000 units.
Investors will note that penny stock traders have recently taken an interest in foreign companies. This could help explain why SPRC stock has rallied so much today. It could also act as a warning for traders who want to avoid a potential fall if penny traders lose interest in the company.
