Origin Agritech New 52-Week Highs (SEED)

Posted in pre-market 
November 23rd, 2009

Origin Agritech Limited (NASDAQ: SEED) is not exactly a household name in America, but the company is deep in hybrid crop seeds in China.  This weekend came the announcement: “Origin Agritech Announces Final Approval of World’s First Genetically Modified Phytase Corn”… Need say no more.

Shares are up 30% at $6.78 at 8:22 AM EST on over 65,000 shares pre-market.  This is actually a 52-week high as the prior 52-week trading range is $1.70 to $6.46.  Average volume is only about 167,000 shares and the market cap before this pop was $117 million.  Active days in the recent past showed over 400,000 shares in October and it saw a whopping 2.9 million shares trade one day mid-September.  With the price, the China aspect, the low market cap and today’s rally, we expect this to be extremely active.


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