The chief scientific officer of a cannabis product company whose stock price has been hotter than a flaming joint (sorry) was known more than 18 months ago to have committed research misconduct while at the U.S. National Institutes of Health — casting a cloud of suspicion over the firm’s operations.
Marketwatch reported yesterday that the company, India Globalization Capital, which trades on the New York Stock Exchange as IGC, has at least nine other “red flags” for investors, from questions about its ability to manufacture cannabinoids to a history of trouble with the U.S. Securities and Exchange Commission.
Until August, the company’s stock had been trading below 50 cents per share. It began a dramatic rise, eventually reaching $13 per share. MarketWatch notes: