Could India Globalization Capital Inc (NYSEAMERICAN:IGC) Change Direction After More Shorts?

India Globalization Capital, Inc. (NYSEAMERICAN:IGC) Logo

The stock of India Globalization Capital Inc (NYSEAMERICAN:IGC) registered an increase of 167.62% in short interest. IGC’s total short interest was 2.00 million shares in September as published by FINRA. Its up 167.62% from 745,800 shares, reported previously. With 1.69 million shares average volume, it will take short sellers 1 days to cover their IGC’s short positions. The short interest to India Globalization Capital Inc’s float is 5.79%.

The stock increased 5.61% or $0.06 during the last trading session, reaching $1.13. About 598,023 shares traded. India Globalization Capital, Inc. (NYSEAMERICAN:IGC) has risen 173.11% since September 13, 2018 and is uptrending. It has outperformed by 173.11% the S&P500.

India Globalization Capital, Inc. engages in the development of cannabis therapies to treat AlzheimerÂ’s, pain, nausea, eating disorders, several end points of ParkinsonÂ’s, and epilepsy in humans, dogs, and cats. The company has market cap of $44.65 million. The companyÂ’s products under medical trials include Natrinol, a natural substitute for Marinol for relieving nausea, vomiting, and increasing appetite in patients with AIDS and cancer; Caesafin to alleviate seizures in dogs and cats; Serosapse addresses several end points in ParkinsonÂ’s disease, including Rapid Eye Movement sleep disorder, anxiety, and dyskinesia; and Hyalolex to reduce the buildup of beta-amyloid in AlzheimerÂ’s patients. It currently has negative earnings. It also provides construction management services for the construction of a 7-star hotel in Genting Malaysia; and rents heavy equipment with operators to construction companies.

More notable recent India Globalization Capital, Inc. (NYSEAMERICAN:IGC) news were published by: Marketwatch.com which released: “Pot stocks pull back as Aurora Cannabis applies to trade on the NYSE – Barron’s” on October 09, 2018, also Globenewswire.com with their article: “IGC Announces Adjournment of Annual Meeting Voting for Proposals Three and Four to Dec 29, 2017 – GlobeNewswire” published on December 18, 2017, Businesswire.com published: “IGC Announces Financial Results for Quarter Ended September 30, 2018 – Business Wire” on October 16, 2018. More interesting news about India Globalization Capital, Inc. (NYSEAMERICAN:IGC) were released by: Marketwatch.com and their article: “India Globalization Capital says it will re-list on NYSE American exchange – MarketWatch” published on February 21, 2019 as well as Seekingalpha.com‘s news article titled: “Is IGC The Biggest Cannabis Bubble After Its 1,000% Gain? – Seeking Alpha” with publication date: October 10, 2018.

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