India Globalization (IGC) had an almost incredible run in the last weeks. Is this pump and dump combined with a short squeeze?
Some sources claim this is a stock located in the health care business. It seems to have issued a plan about entering the cannabidiol-infused energy drink space. On its ascent it managed to do a stock offering at a rather elevated price.
On the third day of the trend visible in the right chart it got mentioned in a Seeking Alpha article from someone who seemed to have insider knowledge and claimed that this is an iron company that supplies iron ore to India and China and is also in the construction business. According to this article some rather extensively positive things happened to the company like rebalancing its balance sheet by overcoming some overwhelming legacy problems.
Perhaps it ironed out the iron and gave itself a marihuana shot into the arm. Nonetheless, technically this was a fantastic trend and therefore chance for the Sigma system trader.
