Cannabis stocks were getting rocked Monday, Oct. 29, as air was being let out of the sector that many felt was a bubble anyway.
Trading of cannabis company India Globalization Capital Inc. (IGC) 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.