STOCKS TELEGRAPH

Tag: Farmmi

  • Farmmi, Inc. (FAMI) stock gained in the current market; here is why?

    Farmmi, Inc. (FAMI) stock gained in the current market after getting new orders this month with a recent one from New York City. FAMI values at $0.17, gaining more than 2.75% compared to yesterday’s closing price. The stock closed at $0.18 at the end of the last trading session. The stock volume traded in the previous trading session was around 28.73 million shares. The current market cap of the company is approximately $104.98 million.

    FAMI: New York City Order

    Farmmi, Inc. (FAMI) announced in a press that its most recent order for dried sliced Shiitake mushrooms is from New York City. The company has received another significant export order.

    The company recently exported its dried sliced Shiitake mushrooms to different countries. On February 22, 16, and 09, 2022, the company received orders for its dried sliced Shiitake mushrooms from Dubai, Jordan, Israel.

    FAMI: Global Mushroom Industry

    Over the next decade, the global mushroom market is expected to grow at an annual rate of 9.5 percent, compared with a value of $46.1 billion in 2020. The increasing number of vegans are looking for protein-rich diets over the next several years, which will fuel the industry. 

    FAMI CEO’s Remarks

    Ms. Yefang Zhang, the company’s CEO, said that this is a great success for our sales team as we utilize our brand and supply chain to expand globally. The United States is a significant market for fungi, with customers eager to include them in their diets. We anticipate additional space to run in the US and other major markets as we deliberately grow order volume and size.

    Conclusion

    However, despite the worldwide tensions, the company’s stock price continues to rise. There is an ongoing crisis between Russia and Ukraine that has lately impacted the company’s shares. However, fresh orders are coming in, which is helping the firm stay up with its operational costs despite the current scenario, which can potentially disrupt the supply chain.

  • Farmmi, Inc. (FAMI) stock declined in the current market; here is why?

    Farmmi, Inc. (FAMI) stock declined in the current market; here is why?

    Farmmi, Inc. (FAMI) stock declined in the current market after Russia invaded Ukraine. Farmmi is an agriculture product supplier based in China. FAMI values at $0.15, losing more than 5.41% compared to yesterday’s closing price. The stock closed at $0.17 at the end of the last trading session. The stock volume traded in the last trading session was around 27.84 million shares. The current market cap of the company is around $92.81 million.

    FAMI Increasing Orders

    The company previously announced a few significant clientele gains. They said they got some new long-term clients who will order dried mushroom products in bulk. 

    On February 22, 2022, the company announced that its subsidiary Zhejiang Farmmi Biotechnology’s well-known dried Shiitake mushrooms had received a fresh order from a customer in Dubai.

    On February 16, 2022, FAMI announced that it got an order from its repeating customer. The order they got was for dried Shiitake mushrooms, and the order will be exported to Jordan. 

    On February 09, 2022, its subsidiary got an order for dried Shiitake mushrooms from a new customer based in Israel.

    FAMI: Global Mushroom Industry

    The worldwide mushroom market is predicted to increase at a CAGR of 9.5 per cent from 2021 to 2028, with a market value of $46.1 billion in 2020. Over the next several years, a growing number of vegans will seek a protein-rich diet, which is likely to drive the industry. The research source is Grand View Research.

    FAMI CEO’s Remarks

    Ms. Yefang Zhang. The company’s CEO said that their sales staff sees increasing order volume from returning and new consumers in everyday client interactions. Customer activity is robust, despite supply chain issues and shutdowns that hampered market development during COVID-19. They have done a terrific job assisting clients at this challenging time, strengthening our long-term ties.

    Conclusion

    The stock of the company is declining despite any significant business news. The company is an agricultural products company, and the ongoing conflict between Russia and Ukraine has caused the stock to decline. The ongoing situation can cause supply chain disruption, due to which its stock is down as of now. 

  • Why is Farmmi, Inc. (FAMI) stock falling in Pre-Market today?

    Why is Farmmi, Inc. (FAMI) stock falling in Pre-Market today?

    Shares of the Farmmi, Inc. (FAMI) stock were falling in the pre-market today following the announcement of pricing of Upsized Underwritten Public Offering of ordinary shares by it. FAMI stock price saw a downtrend of 55.25% to drop at $0.35 as of this writing. FAMI stock dropped by 9.27% at the previous closing. Let’s have a look at current scenarios.

    Farmmi stock intends to sell its ordinary shares:

    FAMI stock on April 28, 2021, announced the pricing of an upsized underwritten public offering of its ordinary share according to which FAMI intends to sell 140,000,000 ordinary shares at a $0.30 price per share. The gross proceeds resulting from this offering would be approximately $42.0 million without deduction of underwriter discounts and commissions along with other offering-related expenses.Net proceeds resulting from this offering would be used for the working capital as well as general corporate purposes of the Farmmi stock. The underwriter has been granted a 45-day option to purchase up to 15% additional ordinary shares of the FAMI stock under the public offering to cover the over-allotments and full exercise of this option would increase the gross proceeds from $42.00 million to $48.3 million in total. The offering is expected to end on May 3, 2021.

    Farmii sales expansion:

    Farmii stock expanded its sales through its subsidiary Zhejiang Forest Food Co., Ltd which had won the multiproduct order for export to Japan. The order is from the existing customer in Japan and related to Farmmi’s high quality richly flavored dried mushrooms, and dried black fungus. Japan is one of the top markets in the globe for Farmmi as the demand for the mushroom is very high there due to its use in various types of soup and food.

    Zhejiang has also won a couple of other multiproduct orders in April for export to U.S and Israel. Both of these orders were for richly flavored dried mushrooms as well as dried black fungus. The U.S customer is a well-established trading company the network of which is expanded to many hotels in the U.S.

    Conclusion:

    The announcement of upsized underwritten public offering is the obvious reason for the declining FAMI stock price. The recent developments of the Farmmi show that the FAMI stock is continuously expanding sales of its high-quality products around the globe. In the short long-term investors need to keep an eye on it. 

  • Farmmi, Inc. (FAMI) stock fell in the Tuesday aftermarket: Why did it happen?

    Shares of the Farmmi, Inc. (FAMI) stock continued the downtrend in the after-market trading session.FAMI stock price saw a downtrend of 9.77% to drop at 0.85 a share in the late hours of Tuesday, April 20, 2021. FAMI was gloomy in the previous trading session and dropped by 6.73% at closing. Let’s try to find the reason behind this fall.

    What’s happening?

    There is no new story since April 16, 2021, related to the FAMI stock to justify the current bearish sentiment. No analysts downgrade or shrank targeted per share price of FAMI stock has been reported recently. Such falls or rises in the stock market spread curiosity among the individuals as they always try to find the reason to calm themselves.

    Recent Development of FAMI stock:

    On April 16, 2021, FAMI  stock did the announcement of winning the multi-product order for export to the U.S. by its subsidiary Zhejiang Forest Food Co., Ltd. The order is related to the flavored dried whole and sliced mushrooms, and dried black fungus which are high-quality products of Farmmi stock. The customer is a well-established trading company that is supplying food products to major global hotel and supermarket chains. STANFORD hotel chain and the H-MART supermarket chain are the names of the favorite among them. This order would continue the sales momentum for the FAMI stock. Previously on April 08, 2021, Zhejiang received the multi-product order for dried whole and sliced Shiitake mushrooms, and black fungus from Israel.

    On April 13, 2021, FAMI stock announced the closing of an over-allotment option pursuant to which selling of which 970,419 ordinary shares happened at $1.15 per ordinary share price. The gross proceeds from this option as well as from previously closed underwritten public offering were totaled approximately $8.6 million without the deduction of underwriting discounts, commissions, and other related expenses of Farmmi stock.

    Conclusion:

    FAMI stock was gloomy in the aftermarket as well as the previous trading session. This fall is not attributed to any recent news related to Farmmi Inc. however its recent developments show that Farmmi is continuing the momentum of its agricultural products. In a nutshell, investors need to do both fundamental and technical analysis before adding this stock to their portfolio.