Cannabis stocks were getting rocked Monday, Oct. 29, as air was being let out of the sector that many felt was a bubble anyway.
Shares of Tilray Inc. (TLRY) - Get Tilray, Inc. Report dropped 16.1%, while Canopy Growth Corp (CGC) - Get Canopy Growth Corporation Report fell 14.6%, DAVIDsTEA Inc. (DTEA) - Get DAVIDsTEA, Inc. Report declined 8.9% and New Age Beverages Corp. (NBEV) - Get New Age Beverages Corp Report declined 11.4%.
Trading of cannabis company India Globalization Capital Inc. (IGC) - Get India Globalization Capital, Inc. Report was halted on the New York Stock Exchange at 9:03 a.m. ET on Monday pending news. It has yet to begin trading. Shares of the Bethesda, Maryland-based company have jumped 149% year to date, including a 329.6% move over the last six months.
IGC has been one of the most volatile cannabis stocks in recent weeks, falling nearly 46% over the past 30 days and rising 472% over the past three months.
Shares of IGC were rising more than 4% after hours Monday.