News Recap: China Xiangtai Food Co. Ltd. (NASDAQ:PLIN)

China Xiangtai Food Co. Ltd. (NASDAQ:PLIN) stock identified change of -16.05% away from 52-week low price and recently located move of -51.17% off 52-week high price. It has market worth of $62.44M. PLIN stock has been recorded -25.83% away from 50 day moving average and -31.39% away from 200 day moving average. Moving closer, we can see that shares have been trading -23.95% off 20-day moving average.

On Jan. 6, 2020, China Xiangtai Food Co. Ltd. (NASDAQ:PLIN) an emerging growth company primarily engaged in pork processing in China, declared that its supermarket sales growth of 300% during Chinese New Year 2020 compared to the same period of last year despite of the ongoing  2019 Novel Coronavirus.

To meet the public demand for food and to stabilize the pork price in the market, the Company has increased its efforts to ease the negative impact of the 2019 Novel Coronavirus on food supplies by continuing operating its business with transparency and integrity, keeping its pork price fair and stable, and timely delivering quality fresh pork and other freshly processed meat products to supermarkets in Chongqing every day.

Zeshu Dai, Chairwoman of the Board and Chief Executive Officer of the Company, commented, The outbreak of the 2019 Novel Coronavirus has shadowed China and general population in many aspects. In order to ensure that consumers’ basic living needs are met, supermarkets in various places still operate as usual. However, during the Chinese New Year and the coronavirus outbreak, many food suppliers have raised product prices due to temporary shortage in the supply chain, which has caused some distress to local residents.

The Consumer Goods sector company, China Xiangtai Food Co., Ltd. noticed change of -19.95% to $2.93 along volume of 1136245 shares in recent session compared to an average volume of 71.55K. The stock observed return of -18.61% in 5 days trading activity. The stock was at -21.24% over one month performance. PLIN’s shares are at -33.71% for the quarter is now at -24.87% since this point in 2018.

The average volatility for the week at 20.24% and for month was at 8.83%. There are 21.31M shares outstanding and 9.09M shares are floated in market.

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