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By Chris Wack
Integrated Media Technology Ltd. shares were down 65% at $3.90 in heavy trading, on a day when the company released no apparent news or releases.
Volume for the stock was 14.1 million shares at 1:15 p.m. ET, compared with its 65-day average volume of 1.1 million shares.
The stock, which closed Tuesday down 9%, hit its 52-week high of $38.48 on April 1.
On Monday, Integrated Media’s Ace Corp. subsidiary entered into a cooperation agreement with Hainan Pansuo Art and Culture Development Co. to establish a strategic partnership to provide one-stop blockchain traceability, automated NFT production, electronic settlement and related development and technical support.
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The rate of U.S. inflation reached a 40-year high of 8.6% in May
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