Origin Agritech Skyrockets on China Report (SEED)
Ag biotech company Origin Agritech Ltd. (NASDAQ: SEED) is seeing its shares shoot up this morning following a report from boutique investment firm Moness Crespi Hardt that the company’s genetically modified (GMO) corn will soon be approved for use in…
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Less than a month ago, the company’s chairman was cited by Caixin Online claiming that Origin’s GMO corn would be approved for use in China by 2013. Soon thereafter, though, the government said that using GMO crops to produce staples (including corn and rice in China), would not be allowed.
Origin’s shares are up more than 63% at $4.10 in a 52-week range of $2.10-$8.43.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
