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Why China Xiangtai Food Co., Ltd. (PLIN) stock is Popping High today?

DBGI Stock

DBGI Stock

China Xiangtai Food Co., Ltd. (PLIN) stock, an emerging food processing company, continued to rise in the pre-market trading session today on May 11, 2021, without any particular activity or news related to it.PLIN stock price saw a push of 23.73% today to reach $0.928 a share as of this writing. PLIN stock inched up by 1.06%  at the previous closing. Let’s deep dive to explore more of it.

What’s Happening?

There is no specific news or announcement by the PLIN stock in recent days to explain the bullish sentiment. We don’t find any announcement even in this whole year by the PLIN stock to relate something to the recent trend. Also, there are no signs of analysts upgrades or increased per share targeted price of the PLIN stock to justify this bull. This left some investors wondering what to make of it all. In such situations, it is better to know the previous developments and financial position to understand a bit about any particular stock.

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Financial View of PLIN stock:

The last news we find about China Xiangtai Food is its financial results for the fiscal year ended June 30, 2020, which PLIN stock announced on December 21, 2020, the highlights of which are given below.

Sales Agreement:

On December 17, 2020, PLIN stock did announce a sales agreement with Chongqing Yongyaoge Technology Co., Ltd. In order to supply CYT products worth $3.5 million. At that time, the CEO of the China Xiangtai had assured that PLIN stock would continue such developments to expand its business and maintain its growth.

Conclusion:

PLIN stock is enjoying the bullish sentiment so far despite the absence of any specific news related to it. Such rises and falls don’t last forever as it is a universal truth, and no one can deny this fact. So, it is better to understand the company’s fundamentals, balance sheet, past developments, and future growth before making any decision. 

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