India Globalization Capital Inc. (IGC) is the latest high-flying cannabis stock to be targeted by Citron Research.

The stock commentary website founded by activist short seller Andrew Left, which has also taken aim at CV Sciences Inc. (CVSI), Cronos Group Inc. (CRON), Namaste Technologies Inc. (N) and Tilray Inc. (TLRY) in the past, labeled IGC “the poster child of a cannabis bubble” in a Twitter post. Citron urged investors to bet against the stock, warning that the Maryland-based company, whose shares have risen 458% over the past six trading sessions to $13, has “no product” and is “all hype.” (See also: Marijuana Stocks: Citron Fails to Kill Buzz.)

$IGC. If you are able to short, it is a gift. No product. All hype. Raised Money 2 weeks ago at $1.15 Finger traders will get burned. This hype stock is the poster child of a cannabis bubble. Always cautious but nothing but air. Could write pages about this scheme

— Citron Research (@CitronResearch) October 2, 2018

“If you are able to short, it is a gift,” it said on Twitter. “No product. All hype. Raised money 2 weeks ago at $1.15 finger traders will get burned. This hype stock is the poster child of a cannabis bubble. Always cautious but nothing but air. Could write pages about this scheme.”

Correction. $IGC has raised money 3 times in 3 weeks at an average price of $3.31. At least the company is honest about the absurd move The stock should have a skull and crossbones at Fidelity. Just praying for more borrow to open up. Target price - $6 fast

— Citron Research (@CitronResearch) October 2, 2018

Citron then proceeded to slap a $6 target price on the stock, implying 54% downside on Tuesday’s closing price. It added, “IGC has raised money 3 times in 3 weeks at an average price of $3.31,” analysts wrote on Twitter. “At least the company is honest about the absurd move. The stock should have a skull and crossbones at Fidelity. Just praying for more borrow to open up. Target price - $6 fast.”

Maryland-based IGC consists of a legacy infrastructure business that operates in India, Hong Kong and Malaysia, and it expanded into the cannabis industry in 2013. The company, whose flagship product is Hyalolex, a treatment for Alzheimer’s disease, claims to have four products that it is readying for medical trials.

IGC’s shares have been on the rise since it announced that it had moved into the Cannabis beverage market on September 25. The company said it signed a distribution and partnership agreement for several products including a sugar free, energy drink called "Nitro G." In its press release announcing the deal, IGC did not name the company it partnered with. (See also: This Marijuana Stock Is Up Almost 300% Since It Announced a CBD-Infused Drink.)

Investors have been poking holes in IGC online, uploading photos they claim is of the address listed on the company’s 10-K filing. The Google Street View images from September 2017 show a small suburban home that’s called Arbol House, a child care center that Google lists as permanently closed.

Cannabis investor Jason Spatafora, who is also bearish on the stock, recently pointed out that CEO Ram Mukunda and his wife sold a large number of shares in August.

IGC’s shares fell 15.62% in pre-market trading.