NaturalShrimp Inc (OTCMKTS:SHMP) stock is gaining momentum on Tuesday. Will the rally continue?
Market Action
As of 10:57, SHMP stock is down by 9% at $0.48. The stock has traded 1.58 million shares compared to its average volume of 2.11 million shares. The stock opened at $0.4500 and moved in a range of $0.4400 – 0.4900.
Major Trigger:
NaturalShrimp Announces Engagement with Lake Street Capital Markets, LLC
Key Highlights:
- SHMP announced that it has engaged Lake Street Capital Markets, LLC (“Lake Street”), a research-powered investment bank, as its Capital Markets advisor given its deep understanding of the fast-growing aquaculture and ag-tech ecosystem.
- More specifically, Lake Street will provide capital markets, mergers, acquisitions, licensing and strategic investment counsel to Natural Shrimp as it executes its growth strategy. In conjunction with this engagement, the company expects to complete it uplisting to the Nasdaq Stock Market in early third quarter 2021.
Key Quote:
“As we move forward into production and commercialization at our Midwest facilities, our engagement with Lake Street will empower us to move more quickly as we grow our capacity and volume,” said William Delgado, Chief Financial Officer and Treasurer of NaturalShrimp. “Key upcoming milestones for NaturalShrimp will be to move to regular weekly production as we continue to stock shrimp in both the Texas and the Iowa production facilities, and the addition of equipment, technologies and facilities to expand production. With Lake Street as our partner, we can explore the option to merge, acquire, or invest in complementary businesses, allowing us to accomplish our goals at a much faster rate.”
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