Keep Riding the Bull in NaturalShrimp Inc (OTCMKTS:SHMP)?

Keep Riding the Bull in NaturalShrimp Inc (OTCMKTS:SHMP)?

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There is little question that the wild ride in shares of NaturalShrimp Inc (OTCMKTS:SHMP) is one of the most striking stock stories on the OTC so far in 2019. At this point, following a rampage of as much as 4,650% in just two weeks during late January and early February, we are finally seeing a protracted consolidation. And traders will be measuring the action in terms of whether or not to start betting on a retest of the February highs, which would be a common pattern formation given the action on the chart. In this case, such a move could represent a quick ticket to nearly 200% in gains. So, handicapping the probabilities will be front and center.

To add some color to the action over recent days, the company just announced that it shipped approximately 275 pounds of fresh shrimp to Northridge Country Club (NRCC) in Fair Oaks, California for its annual Mardi Gras celebration. Bill Williams, NaturalShrimp, Inc. CEO, commented: “We were very happy to supply and sponsor this great event. In attendance was our CFO, several shareholders and many local business leaders. We will continue to support these types of events with our existing supply of fresh shrimp from our facility in San Antonio, Texas.”

NaturalShrimp Inc (OTCMKTS:SHMP) bills itself as a global shrimp farming company that is developing a technology to produce fresh, gourmet-grade shrimp reliably and economically in an indoor, re-circulating, saltwater facility.

Its eco-friendly, bio-secure design does not rely on ocean water, but rather recreates the natural ocean environment allowing for high-density production which can be replicated anywhere in the world.

The company was founded in 2001 and is based in Dallas, Texas.

According to the release, “NaturalShrimp, Inc. (OTCQB: SHMP) is a publicly traded agro-technology company headquartered in Dallas, Texas with production facilities located near San Antonio in LaCoste, Texas. The Company has developed the first commercially viable system for growing shrimp indoors using patented technology that produce fresh, never-frozen, naturally grown shrimp without the use of antibiotics or toxic chemicals. NaturalShrimp systems are self-contained, saltwater production facilities that can be located anywhere in the world to produce gourmet-grade Pacific White Shrimp.”

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As noted above, SHMP just announced that it shipped approximately 275 pounds of fresh shrimp to Northridge Country Club (NRCC) in Fair Oaks, California for its annual Mardi Gras celebration.

Rink Sanford, General Manager of NRCC, added: “We are very pleased that Natural Shrimp chose to sponsor our sold-out event. The product was the highest quality shrimp that we have ever served at an event. Our membership was very happy with the quality of shrimp that was supplied.”

Recent action has seen 17% during the past month in terms of shareholder gains in the name. Furthermore, the stock has witnessed a pop in interest, as transaction volume levels have recently pushed a bit over 210% over what the stock has registered over the longer term.

Darrell Madeira, head chef at NRCC, also commented: “My team was able to prepare the shrimp in a few different ways, including traditional Louisiana style with the heads-on, in addition to peel and eat served alongside our crab legs. I was very impressed with the quality and our ability to prepare the shrimp.”

Now commanding a market cap of $98.76M, SHMP has virtually no cash on the books, which compares with about $5.9M in total current liabilities. The company is pre-revenue at this point. As more color becomes clear on the name, we will review the situation and update our take. Sign-up for continuing coverage on shares of $SHMP 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 $SHMP, either long or short, and we have not been compensated for this article.

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