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My investment in AquaBounty (AQB)
02 Jun 2021 (369 views)

AquaBounty is a US company that uses genetic engineering (GE) to grow salmon in land-based facilities at half the time taken for the salmon to grow naturally.

I bought 10,000 shares at US $9.60 in February 2021. The stock price has dropped to $5.90, giving me a loss of $37,000 or 39%.

A friend who bought the stock at the same time sold his holdings when it dropped 5%. (He is smarter than me).

I have sold 4,000 shares and now hold 6,000 shares. 

This stock performed badly due to activists who lobbied against the GE salmon in America. AQB had been selling the GE salmon in Canada for several years without this kind of problem.

I read a recent news that they managed to sell their May harvest to the American public and the reception to their salmon was quite good. This came from a company statement, so it may be exaggerated. 

There is another report that AQB had received approval to sell the GE salmon in Brazil.

News report

If AQB is successful, they have the potential of a big global market. There is a need to produce various species of fish more productively to feed a growing global population.

Following the news, AQB stock price jumped 8.6% last night. Will it move up more? I shall watch over the next few sessions.

Company website
https://aquabounty.com/

Note - I am sharing a personal view. I am not recommending to buy this stock at any specific price.

Tan Kin Lian


 


My investment in AquaBounty (AQB)
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AquaBounty is a US company that uses genetic engineering (GE) to grow salmon in land-based facilities at half the time taken for the salmon to grow naturally.

I bought 10,000 shares at US $9.60 in February 2021. The stock price has dropped to $5.90, giving me a loss of $37,000 or 39%.

A friend who bought the stock at the same time sold his holdings when it dropped 5%. (He is smarter than me).

I have sold 4,000 shares and now hold 6,000 shares. 

This stock performed badly due to activists who lobbied against the GE salmon in America. AQB had been selling the GE salmon in Canada for several years without this kind of problem.

I read a recent news that they managed to sell their May harvest to the American public and the reception to their salmon was quite good. This came from a company statement, so it may be exaggerated. 

There is another report that AQB had received approval to sell the GE salmon in Brazil.

News report

If AQB is successful, they have the potential of a big global market. There is a need to produce various species of fish more productively to feed a growing global population.

Following the news, AQB stock price jumped 8.6% last night. Will it move up more? I shall watch over the next few sessions.

Company website
https://aquabounty.com/

Note - I am sharing a personal view. I am not recommending to buy this stock at any specific price.

Tan Kin Lian