There does not appear to be any direct news from the company. But it seems like that there was some coordination by day traders on social media.
$IFMK shares were buoyed — thanks to discussions and speculation on Twitter and Twitter hashtags at the start of the month.
iFresh Inc is an Asian/Chinese grocery supermarket chain in the North-Eastern U.S. providing food and other merchandise hard to find in mainstream grocery stores.
The company generates a majority of its revenue from its retail segment.
The other positive factor for the $IFMK is the surging Food delivery in NYC as indoor dining shutdowns continue (based out of nyc), due to covid 19.