Farmmi (NASDAQ:FAMI) stock is on the move Wednesday as investors react to news of a new repeat order for one of the company’s products.
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According to a recent report, Farmmi secured a repeat order for its dried mushroom slices. This will have it sending them to a customer in Southampton, England. That marks a win for a agricultural products supplier, which has a focus on Shiitake mushrooms and other fungi.
Yefang Zhang, CEO of Farmmi, had the following to say about the mushroom order that boosted FAMI stock higher today, in a statement obtained by BayStreet.
“This is another important win for us. It continues the meaningful sales growth trajectory we have been building all year as we leverage our increased investments in sales and marketing to build our global brand, and it also benefited from our consistent product availability due to our strong supply chain relationships.”
News of the mushroom order also has FAMI stock seeing a decent amount of trading today. As of this writing, more than 62 million shares of the company’s stock have changed hands. That’s creeping up on its daily average trading volume of 73.4 million shares.
FAMI stock is up 6% as of Wednesday afternoon.
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