IM Cannabis shares surge 20.67% after-hours following Q3 2025 financial results announcement.

think> Okay, let's start by understanding the user's query. They provided a stock performance for IM Cannabis, which is up 20.67100651% in the after-hours session. The recent news includes two reasons. First, I need to determine the direction and session. The stock went up after hours. Now, looking at the news events. Reason 1 is about the cancellation of a special meeting scheduled for December 2025. The summary says the cancellation might impact stakeholders' expectations and corporate actions. The content also mentions a Sell rating from an analyst and Spark's Underperform rating. The technical analysis is bearish. Reason 2 lists various news headlines, but most are older. The most recent one is from 5 days ago about reporting Q3 2025 financial results, which might have a 34.20% increase in stock price. However, the other news includes negative developments like a CFO departure, market cap drop, and a non-binding term sheet for an acquisition. Wait, the user input for the stock performance says it's up 20.67% after hours. The recent news includes the Q3 results announcement on November 13th. If the after-hours movement is after that announcement, maybe the Q3 results were positive. However, the summary for reason 2 doesn't provide details on the actual results. The content only lists the headlines. But the user's input for reason 1's content mentions a Sell rating and Spark's Underperform. That seems bearish. However, the stock price went up. That's conflicting. Wait, the after-hours movement is the key here. The latest news in reason 1 is the cancellation of the meeting. If that's the most recent event, maybe investors are reacting to that. The cancellation could be seen as positive if it avoids potential conflicts or allows the company to focus on other strategies. However, the analyst ratings are negative, which might not align with the price increase. Alternatively, maybe the 34.20% increase in the Q3 results announcement (from 5 days ago) is the trigger. If the stock is up in after-hours trading following that earnings report, that could be the reason. But the user's input lists the stock movement as after the latest news. Wait, the user's input for the stock performance is in the after-hours session, and the recent news includes the Q3 results announcement on November 13th. If the after-hours movement is on the same day as the earnings report (November 13th), then the stock's surge could be due to the positive earnings news. However, the summary for reason 2 doesn't provide details on the actual results—just the headline. But the example given by the user shows that even if there are multiple news items, the key one is identified. In this case, the most recent news is the Q3 results announcement on November 13th, which is 5 days ago. However, the stock's movement is in after-hours, and the latest news is the cancellation of the meeting on November 14th. Wait, the cancellation notice is dated November 14, 2025. But the stock movement is in the after-hours session. If the cancellation was announced recently, that could be the trigger. However, the cancellation is for a meeting in December 2025. Why would that cause a 20.67% increase? Maybe the cancellation is seen as a positive move, perhaps to avoid a contentious vote or to refocus on other initiatives. But the analyst ratings are negative, which might not align with the price movement. However, the user's instruction says to assess if the relevant events align with the stock's direction. If the cancellation is the key news and it's seen as positive, then it's bullish. Alternatively, the Q3 results might have been positive. If the company reported better-than-expected results, that could explain the surge. But the summary for reason 2's first item is just the announcement that they will report the results, not the actual results. This is a bit confusing. The user's input for the stock performance is in after-hours, and the recent news includes both the cancellation of the meeting and the Q3 results announcement. However, the actual Q3 results might not have been released yet. Wait, the first news in reason 2 says "IM Cannabis Reports Third Quarter 2025 Financial Results" with a PR Newswire 5 days ago. So if the after-hours movement is after that report, then the surge is due to the Q3 results. The summary doesn't provide details, but the content mentions a 34.20% increase. However, the user's input for the stock movement is 20.67% up. Given that, the most recent relevant news is the Q3.