Major Price Tank Alert: AgFeed (FEED)

Posted in General 
November 13th, 2008

AgFeed Industries, Inc. (NASDAQ: FEED) is being crushed this morning.  The largest commercial hog producer and the largest premix feed company in China said that revenue grew year over year by 316% to approximately $49.4 million and said earnings were $0.25 EPS, up 222% from Q3-2007.  But the company is lowering its guidance, citing a decrease in the price of hogs, a surge in the supply of swine, and the overall economic downturn in China and worldwide.  Prior earnings per share guidance of $1.10 to $1.20 EPS is now expected to be between $0.55 to $0.65 for 2008 EPS.

As of 9:18 AM EST we have seen about 75,000 shares trade hands and average volume each day is about 600,000 shares.  So far the stock is down a whopping 3% at $2.11 in pre-market trading.  Its prior 52-week trading range WAS $3.13 to $21.31.

This will be making many people squeal like a pig.

Jon C. Ogg
November 13, 2008

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