24/7 Market News Snapshot 28 August, 2025 – SciSparc Ltd. Ordinary Shares (NASDAQ:SPRC)
DENVER, Colo., 28 August, 2025 (www.247marketnews.com) – (Nasdaq:SPRC) are discussed in this article.
SciSparc Ltd. (Nasdaq:SPRC) has recently experienced a notable surge in its stock price, opening at $4.215 and rising to $4.518, reflecting a significant increase of 6.06%. Following a previous session close at $4.260, the heightened trading volume of 12.78 million shares indicates robust investor interest. Technical analysis suggests bullish patterns, with a potential upward trajectory as long as the price remains above the $4.40 resistance level. Key support around $4.25 will be essential for investors to monitor, as it may signal potential reversals.
In a pivotal development, SciSparc has announced its merger with AutoMax Motors Ltd., a move aimed at enhancing shareholder value and expanding its operational portfolio. Following the successful approval of the merger in special general meetings, SciSparc will acquire 100% of AutoMax’s share capital in a reverse merger process. This merger allows SciSparc shareholders to hold approximately 50.01% of the newly formed entity, strategically positioning them in the rapidly growing electric vehicle market.
The collaboration with AutoMax, a notable player in the electric vehicle sector, aligns with SciSparc’s vision of leveraging emerging market trends to foster growth. With prior financial backing, including a $4.25 million bridge loan along with an additional $2 million loan to AutoMax, SciSparc is well-equipped to support the operational needs of its new partner.
A representative from SciSparc emphasized the merger as a critical opportunity to diversify the business model and explore innovative avenues for growth. The completion of this merger is subject to customary closing conditions and requisite approvals, with an overarching commitment to balancing its core pharmaceutical operations while seizing emerging market opportunities.