AFFINOR GROWERS ORD (OTCMKTS:RSSFF) is a penny play that saw a massive influx of volume in Tuesday’s trade, with shares reacting to news for an intraday jump of as much as 18% and a temporary break above the 50-day simple moving average. The catalyst that sparked this sudden influx of energy in the tape for the stock was the company’s announcement that it has received a purchase order for 32 vertical farming towers. However, by day’s end, much of those gains had been given back, and it will be up to the sober mind of the market in days to come as to how this catalyst will be evaluated and priced into shares.
According to the release, “these towers will be installed at the Abbotsford vertical farming strawberry facility. A 10 percent deposit will be issued 10 days after confirmation of raw material orders. Affinor Growers will receive a 10 percent profit margin of $66,666.88. The plan between both parties is to service Canada with the highest quality, best priced organic produce, using the patented Affinor Growers Vertical Farming Tower Technology. All produce will be sold under the ECO-Spirit brand label.”
AFFINOR GROWERS ORD (OTCMKTS:RSSFF) bills itself as a company that offers patented agricultural technology and proprietary cultivation systems enabling food to be grown in natural soil without the use of pesticides, free from chemical contaminants. Truly offering technology for growing better food. Affinor’s plan is to continue to develop the technology for a variety of crops and markets, build a pilot plant and provide a showcase for future license agreements generating revenue.
Affinor Growers Inc., a farming technology company, engages in acquiring, patenting, and commercializing various agriculture technologies and vertical farming technology for indoor controlled environment and outdoor greenhouse agriculture industry in North America. It produces strawberries and other crops, such as romaine lettuce and herbs using vertical farming technology.
The company was formerly known as Affinor Resources Inc. and changed its name to Affinor Growers Inc. in May 2014 to reflect the change in its focus from gold exploration to the agricultural industry. Affinor Growers Inc. was incorporated in 1996 and is based in Vancouver, Canada.
According to company materials, “Affinor Growers is a publicly traded company on the Canadian Securities Exchange under the symbol (“AFI”). Affinor is focused on growing high-quality crops such as romaine lettuce, spinach, strawberries using its vertical farming techniques. Affinor is committed to becoming a pre-eminent supplier and grower, using exclusive vertical farming techniques.”
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As noted above, shares of Affinor ripped higher early this week on a major influx of volume in reaction to news that the company had struck a deal with a major food cultivator for its vertically oriented farming towers, but the stock was not able to hold onto the lion’s share of those gains. Nonetheless, this stock still carries the potential for some potentially exciting action going forward given that the doorway is open for deals of this kind by the company.
Nick Brusatore CEO, commented that “Today marks a very exciting milestone for Vertical Designs, Affinor Grower and the growing vertical farming industry. I believe this important state of the art facility will be a showcase for the future of organic food production”.
We’ve witnessed 2% during the past week in terms of shareholder gains in the company. Market participants may want to pay attention to this stock. RSSFF has evidenced sudden upward volatility on many prior occasions. Moreover, the company has registered increased average transaction volume recently, with the past month seeing a bit over 420% beyond what we have been seeing over the larger time frame.
Now commanding a market cap of $16.8M, RSSFF has virtually no cash on the books, which is balanced by virtually no total current liabilities. The company is pre-revenue at this point. This is an exciting story, and we look forward to a follow-up chapter as events transpire. Sign-up for continuing coverage on shares of $RSSFF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $RSSFF, either long or short, and we have not been compensated for this article.