Farmmi FAMI Stock News

Farmmi Inc (NASDAQ: FAMI) is running for the top in the market this morning with gains that are better described in multiples than percentages. The gains come after the company said that it received a large repeat order. Here’s what’s going on:

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FAMI Stock Gains In Multiples On Repeat Order

In the press release, Farmmi said that it received an additional report order for the distribution of Shiitake mushrooms and black fungus. The order was received from an Israeli customer and placed through the FAMI subsidiary Zhejiang Forest Food Co., Ltd.

In a statement, Ms. Yefang Zhang, Chairwoman and CEO at FAMI, had the following to offer:

While China has been the world’s largest producer of high-quality Shiitake mushrooms, Israel has been a major consumer going back to ancient times. In addition to the many potential benefits of including mushrooms (shveml in Yiddish) in a regular diet, mushrooms are kosher in their natural state once checked for bugs. There are numerous nutritional benefits to eating mushrooms, which are fat-free, low-sodium and cholesterol-free. Mushrooms are rich with fiber, vitamins and minerals, with the flexibility to be consumed dried or used in soups, stews, appetizers and countless other delicious, healthy dishes. This latest order, our fifth from the same customer this year, reflects the healthy demand we are seeing and the overall momentum in our business in key markets worldwide.

This Is Big News

While the press release from Farmmi was relatively short and did not provide an exact dollar amount associated with the repeat order, this is very exciting news. The international order of Shiitake mushrooms and black fungus shows that the company is working to expand its international delivery of products. Moreover, with the releace centered around this order, we know that this order must be a large one.

However, the movement seems to be more than just this order. Ultimately, FAMI stock has been under quite a bit of pressure as of late. With heavy short interest, it seems as though the stock is experiencing a short squeeze triggered by the news, which is causing the incredible growth on ridiculously high volume.

Nonetheless, there may be more room for FAMI stock to run. So, watch closely!

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