STOCKS TELEGRAPH

Tag: Inc. (FAMI)

  • 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.