Cannabis Cultivator Bright Green Corporation (BGXX) in Fort Lauderdale, Fla., marked its NASDAQ debut on May 17, with its stock soaring nearly 216% in price. It is one of the few companies chosen by the U.S. government to cultivate, manufacture, and sell cannabis and cannabis-related products lawfully under federal and state regulations for research, pharmaceutical purposes, and affiliated export.
Also, the company's shares advanced 91% a day after their listing. In a filing on May 13, the company stated that certain registered stockholders planned to offer 158.3 million shares of its stock. However, the stock plunged 65% in afternoon trading after two days of impressive gains. Closing its last trading session at $6.18, BGXX is currently trading near its all-time low of $5.60, which it hit on May 23, 2022.
