I think a lot of people didn't know about the ADR consolidation and the internet isn't helping. This is the first result that comes up if you google IXHL showing up 383% (obviously no consolidation accounted for). Subsequently it got sold down to $2(!!) not long after open.
Other websites show the actual percentage gain and it has recovered by over 100% in the last half hour so perhaps its slowly sinking in.
Trading on NASDAQ, page-17
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