Farmmi, Inc. (FAMI) is basically an agriculture-associated e-commerce company. The company is engaged in the production of multiple varieties of edible mushrooms and fungi including shiitake and Mu Er mushroom. The company also operates an online mart selling its products to a wide range of customers globally.
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The price of FAMI stock during the regular trading on January 4, 2022, with a 7.41% increase was $0.25. At last check in the premarket on January 5, 2022, the stock was further up by 14.04%.
FAMI: Events and Happenings
On December 28, 2021, FEMI reported that one of its subsidiaries won another order for a new repeat product. The order will be exported to England.
FAMI: CEO Comments
Speaking at the occasion, Ms. Yefang Zhang, the company’s CEO, said that the latest win increased the company’s sales progress trajectory. She further stated that the latest win is indirectly related to increased revenue per customer, which is the driving force for long-term success.
On December 20, 2021, FAMI reported that one of its subsidiaries won dried Shiitake mushrooms repeat orders to be exported to Jordan.
On December 15, 2021, FAMI reported about the receipt of annual Kosher certification for the seventh successive year. FAMI also announced that its two subsidiaries were awarded the title of Sunshine Factory from the Provincial government. The announcements made the company’s position stronger in the market.
On December 13, 2021, FAMI reported that one of its subsidiaries won dried Shiitake mushrooms order for export to Dubai. On December 2, 2021, FAMI reported about notification from Nasdaq about the grant of an added 180 times for acquiescence under minimum bid price conditions. The closing price of the FAMI’s shares must be more than the minimum criteria of $1.00 per share.
On November 15, 2021, FAMI reported that its subsidiary won a dried black fungus order for export to Canada. On November 11, 2021, FAMI reported that its subsidiary showcased the latest product line of the company at the 25th Food & Hospitality China Shanghai International Food Trade Show held on November 9-11, 2021.
On November 8, 2021, FAMI reported that its subsidiary won dried black fungus and whole dried mushrooms product orders for export to Canada. On November 5, 2021, FAMI reported about the acquisition of 16% shares of Shanghai Jiaoda Onlly Company by its subsidiary. The purchase was worth $79.8 million.
On November 1, 2021, FAMI reported holding an extraordinary general meeting of the company’s shareholders on December 20, 2021.
Conclusion
Although FAMI’s stock fell 42% from the past six months, yet the company is gaining its momentum in the current aftermarket possibly as a result of its strategies supporting expanded global reach. The investors and analysts are confident that the current scenario is the best for the company in terms of revenue generation and stock price.
