Farmmi Inc Stock Price, News & Analysis

Farmmi, Inc. (NASDAQ: FAMI) announced that its proposed share consolidation of one-for-twenty-five was approved at the shareholder meeting on May 14, 2022. This consolidation aims to regain compliance with Nasdaq's listing rules, effective May 31, 2022. Consequently, outstanding ordinary shares will shrink from approximately 557.98 million to around 22.32 million shares. The authorized shares will also decrease from 600 million to 24 million shares. Trading will continue under the same symbol 'FAMI' with a new CUSIP number.

Farmmi, Inc. (NASDAQ: FAMI), an agricultural products supplier in China, has joined the National Restaurant Association, enhancing its market presence and credibility. Chairwoman and CEO Yefang Zhang highlighted the strategic advantages of this membership, including increased access to U.S. foodservice buyers and a commitment to improving agricultural practices among Chinese farmers. The company aims to meet U.S. FDA standards while exploring potential production expansions in the U.S. and Canada, signaling significant growth opportunities for Farmmi moving forward.

Farmmi, Inc. (NASDAQ: FAMI) announced a new sales order for Shiitake mushrooms, set to be exported to England. Chairwoman and CEO Yefang Zhang highlighted the growing interest in culinary uses of mushrooms, particularly for enhancing traditional meat dishes, stews, and salads. The company expects continued demand growth, reflecting successful efforts from its sales and marketing teams to establish a presence in Europe. Established in 1998, Farmmi specializes in edible mushrooms and offers direct-to-consumer sales via its website.

Farmmi, Inc. (NASDAQ: FAMI) announced on May 20, 2022, that Nasdaq determined to delist its securities due to a closing bid price below $0.10 for ten consecutive trading days. The Company does not meet the Minimum Bid Price Rule, which requires a closing bid price of $1.00 or higher. Farmmi has a compliance period of 180 days to rectify this issue, which expires on May 30, 2022. The Company plans to appeal the determination, and trading suspension is set to begin on June 1, 2022, unless the appeal is successful.

Farmmi, Inc. (NASDAQ: FAMI) announced an extension of the proxy voting period until May 13, 2022, to accommodate shareholders. The CEO update highlights the company's steady progress in business diversification and growth despite the pandemic. Farmmi's core business in edible fungi remains strong, with increasing demand driven by health-conscious consumers. However, expansion in its Health and Wellness business has been slower than desired. The current push for a share consolidation is crucial to comply with Nasdaq's minimum bid price requirement to avoid delisting, with a deadline of May 30, 2022.

Farmmi, Inc. (NASDAQ: FAMI) announced a new multi-product order for its dried Shiitake mushrooms and dried black fungus to be exported to Israel. The company is focused on increasing sales momentum and business growth, supported by investments to enhance manufacturing, storage, and logistics capacity. Chairwoman and CEO, Yefang Zhang, expressed optimism about long-term growth as more consumers adopt healthy agricultural products into their diets. This order reflects the company's ongoing efforts to capture market share in the agricultural product sector.

Farmmi, Inc. (NASDAQ: FAMI) announced a new sales win in North America for dried Shiitake mushrooms, focusing on the Vancouver market. Chairwoman and CEO Yefang Zhang highlighted that North America is a significant growth area, benefiting from a resurgence in consumption due to the end of COVID-19 lockdowns. Farmmi aims to meet rising demand for high-quality agricultural products, which are increasingly valuable in healthy diets and popular cuisines. The company has a strong reputation for fulfilling larger orders globally.

Farmmi, Inc. (NASDAQ: FAMI), an agricultural products supplier in China, announced a new sales order for black Mu Er mushrooms to Guam from a long-term customer. Yefang Zhang, the company's Chairwoman and CEO, expressed enthusiasm about expanding into a new territory, emphasizing increased customer activity and a positive trend in sales efforts. Established in 1998, Farmmi specializes in edible mushrooms and sells products directly to consumers. The company aims to enhance sales and brand awareness throughout 2022.

Farmmi, Inc. (NASDAQ: FAMI) announced a repeat order for black Mu Er mushrooms from a long-term customer, who will export the products to Jordan. Chairwoman and CEO Yefang Zhang emphasized the company's strategy of focusing on customer satisfaction, which leads to repeat orders and expanded brand awareness. Established in 1998, Farmmi specializes in edible mushrooms and agricultural products, distributing both offline and online. The company acknowledges several risks, including the ongoing impacts of the Covid-19 pandemic and market fluctuations.