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Oct. 5, 2018, 1:39 p.m. EDT

IGC's stock tumbles toward biggest ever decline, again

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By Tomi Kilgore

Shares of India Globalization Capital Inc. /zigman2/quotes/205797879/composite IGC 0.00% plunged toward its biggest-ever one-day decline, as they extended their pullback following the meteoric run up after the company said it was entering the cannabidiol-infused energy drink space. The stock plummeted 37.1% in afternoon trade, the biggest decline since it went public in April 2006, amid a broad selloff in cannabis stocks. The three biggest declines have occurred over the past three sessions, including a 31.9% selloff on Wednesday and Thursday's 27.6% dive. Before that, the biggest decline was 27.0% on Feb. 19, 2009. The current three-session losing streak follows a near six-fold run up in five days (up 458%). Among other more-active marijuana stocks, New Age Beverages Corp. /zigman2/quotes/200595917/composite NBEV +3.77% slipped 0.4%, Tilray Inc. /zigman2/quotes/209129655/composite TLRY -2.36% lost 7.2%, Cronos Group Inc. /zigman2/quotes/206842762/composite CRON -1.61% shed 7.7%, Canopy Growth Corp. /zigman2/quotes/200603886/composite CGC -12.07% dropped 3.8% and Aurora Cannabis Inc. gave up 2.3%. Meanwhile, Level Brands Inc.'s stock rallied 14%. The ETFMG Alternative Asset ETF /zigman2/quotes/204332491/composite MJ -3.69% tumbled 3.1% with 27 of 33 components losing ground, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +2.47% lost 1.1%.

Read the full story:
All the potential red flags for investors in IGC, the pot stock that jumped 1,000% in three months

/zigman2/quotes/205797879/composite
US : U.S.: NYSE American
$ 0.44
0.00 0.00%
Volume: 498,632
May 27, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$22.21 million
Rev. per Employee
$7,120
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/zigman2/quotes/200595917/composite
US : U.S.: Nasdaq
$ 0.38
+0.01 +3.77%
Volume: 713,989
May 27, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$55.76 million
Rev. per Employee
$390,003
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/zigman2/quotes/209129655/composite
US : U.S.: Nasdaq
$ 4.55
-0.11 -2.36%
Volume: 30.42M
May 27, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$2.26 billion
Rev. per Employee
$253,146
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/zigman2/quotes/206842762/composite
US : U.S.: Nasdaq
$ 3.05
-0.05 -1.61%
Volume: 2.85M
May 27, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.14 billion
Rev. per Employee
$138,307
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/zigman2/quotes/200603886/composite
US : U.S.: Nasdaq
$ 4.88
-0.67 -12.07%
Volume: 0.00
May 27, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.94 billion
Rev. per Employee
$136,316
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/zigman2/quotes/204332491/composite
US : U.S.: NYSE Arca
$ 7.30
-0.28 -3.69%
Volume: 1.58M
May 27, 2022 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,158.24
+100.40 +2.47%
Volume: 2.17B
May 27, 2022 5:49p
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