Farmmi (FAMI) Stock Crosses 50 cents in Early Trade: Now What?

Chinese agricultural product supplying company Farmmi Inc (NASDAQ:FAMI) is on the radars of many investors this morning after the company announced the formation of Zhejiang Farmmi Agricultural Supply Chain Co., Ltd.

Farmmi (FAMI) Stock Crosses 50 cents in Early Trade: Now What?

The Farmmi stock has rallied strongly and has managed to clock gains of 11% so far this morning. The company stated in its press release that it wants to apply its experience spanning in excesses of 20 years in the Chinese agricultural sector and seeks to become a key service provider in the agricultural supply chain.

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It is a significant step from the company and the Chief Executive Officer of Farmmi, Yefang Zhang spoke about it as well in the press release. She said that although the agriculture industry has grown along with the Chinese economy, the industry still faces a lot of challenges with regard to logistics and supply chains. That can also lead to faulty demand projections and ultimately lower profits.

Michael Rowels

Weekend Contributor. Writing for business and finance publishers has become his passion over the last decades after he completed a master's degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.