Cannabis cultivator Bright Green stock plunges 28%

Cannabis cultivator Bright Green’s (BGXX) stock plunged 28% in afternoon trading Wednesday.

Shares of the newly public company opened at $5.20, reaching a high of $5.45 in early trading and a low of $3.60 in mid-afternoon. The stock recently changed hands at $3.66, down 28%, at around 3:00 p.m.

BGXX shares have been volatile since the company went public through a direct listing on May 17 with a reference price of $8 per share. The stock soared during its first two sessions before shifting gears and has fallen 56% over the past five sessions.

For a more in-depth view of Bright Green, check out SA contributor Donovan Jones’s “Bright Green Files for US Direct Listing”.