India Globalization Capital CEO dumps shares amidst a major company "turnaround"

Over the last few weeks, India Globalization Capital’s (IGC) Chairman and CEO Ram Mukunda has been selling a lot of stock in his own company. During this time, Mukunda sold 275,000 shares in the $0.40 to $0.51 range.

What we find to be interesting about these sales is the timing of them. For a company that claims to be in the middle of a major turnaround, you must question why the person running the company is selling hundreds of thousands of shares.

A Fake News Driven Rally

IGC has been a top performer over the last few weeks and the shares have come well off its recent lows. Although the rally has been significant, we do not buy into the catalyst that helped push the stock price higher.

Last month, IGC announced that it will be commercializing a treatment for Alzheimer’s disease through medical marijuana dispensaries. The company plans target...

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