The IGC still jumps 50% because that's exactly what cannabis stocks are doing nowadays

India Globalization Capital Inc. (IGC) grew more than 50% on Tuesday, October 2, which means that the cannabis stock jumped more than 250% in the last five sessions.

IGC announced last week that it has signed a partnership agreement for several products, including the infusion of an energy drink called "Nitro G" with cannabidiol. Since then, the stock is unstoppable.

"According to Grand View Research forecasts, the global energy beverage market is estimated to be worth nearly $ 85 billion by 2025, with non-alcoholic beverages being a significant part of the market. CBD-based sugar-free energy drink, "said Ram Mukunda, CEO of IGC.

The Bethesda, Maryland-based company will offer 797,000 restricted, unregistered common shares for a 10-year license to market the products in the United States, Canada, Mexico and South America, as well as Global rights on all products impregnated with CBD are developed under the partnership.

IGC was Wall Street's favorite cannabis stock on Tuesday, as shares of Canadian cannabis company Tilray Inc. (TLRY) fell 8% and Canopy Growth Corp. (CGC) fell by almost 3%.

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