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Home / Market Movers / Cannabis Stock Laggard: India Globalization Capital Inc. (AMX:IGC) Sheds 14.3% in Early Trading on December 15

Cannabis Stock Laggard: India Globalization Capital Inc. (AMX:IGC) Sheds 14.3% in Early Trading on December 15

India Globalization Capital Inc. (AMX:IGC) is coming out weak in the morning trading session on December 15, declining more than most other peers in the directory of approximately 200 stocks we track in the cannabis industry with an slide of 14.3%. After closing the previous session at $0.3384, shares of IGC opened this morning at $0.34 and are trading at $0.29 shortly after the opening bell. So far, about 13,941 shares have changed hands, compared to an average of 30-day volume of 139,123 for India Globalization Capital Inc.. Shares moved as high at $0.34 and as low as $0.29 in today’s early action.

The share depreciation gives the company a market capitalization of $9.6 million based upon 28.38 million shares outstanding.

In the past 52 weeks, shares of India Globalization Capital Inc. have traded as low as $0.16 and as high as $0.83. Technical traders will take note that at $0.29, shares of IGC are trading below their 50-day moving average (MA) at $0.352 and below their 200-day MA at $0.436. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move beneath them is typically regarded as bearish.

Who is IGC?

India Globalization Capital Inc develops intellectual property for the treatment of life altering or life threatening conditions through its research on phytocannabinoid-based therapies. The company is led by its CEO Ram Mukunda from its headquarters in Bethesda, MD.

For more information on IGC and other companies focused on the expanding legal cannabis and medical marijuana industries or to considered for contributing content, visit PotNetwork.com today.

All data provided by QuoteMedia and was accurate as of 9:30AM ET.

About PotNetwork.com

PotNetwork.com is a leading publisher of market news, commentary, proprietary research and videos from seasoned journalists, analysts and contributors covering the legal cannabis and medical marijuana markets. Leveraging our extensive distribution network and social media presence, we have cultivated a valuable audience of engaged market enthusiasts interested in all segments, which in turn delivers a variety of unique opportunities for industry partnerships, corporate communications and market exposure. A complete disclaimer can be viewed here.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of PotNetwork.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://potnetwork.com/legal-disclaimer/.

About Jeremy Wilchek

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