India Globalization Capital Inc. (AMX:IGC) had a tough morning trading session on February 28, declining more than most other peers in the directory of approximately 200 stocks we track in the cannabis industry with a slide of 9.4%. After closing the previous session at $0.365, shares of IGC opened this morning at 0.3696 and are trading at $0.3307 at the lunch break. So far, about 166,825 shares have changed hands, compared to an average 30-day volume of 246,132 for India Globalization Capital Inc.. Shares moved as high at $0.3699 and as low as $0.31 in AM trading action.
The share depreciation gives the company a market capitalization of $10.08 million based upon 27.61 million shares outstanding.
In the past 52 weeks, shares of India Globalization Capital Inc. have traded as low as $0.19 and as high as $0.83. Technical traders will take note that at $0.3307, shares of IGC are trading above their 50-day moving average (MA) at $0.288 and below their 200-day MA at $0.4. 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 12:00PM ET.
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