NaturalShrimp Inc. (OTCMKTS:SHMP) Stock Jumps 7% In a Week: Here is Why
NaturalShrimp Inc. (OTCMKTS:SHMP) has been on an impressive run this week as it continues to bottom out after a 50% plus pull back from52-week highs of $0.89. The stock has gained 7% this week amid increasing traded volume. However, the stock is still down by about 15% year to date.
Market Stats
On Wednesday, SHMP stock jumped 1.40% to $0.33 with 543k shares, compared to its average volume of 1.54 million shares. The stock has moved within a range of $0.3150 – 0.3400 after opening trading at $0.32.
NaturalShrimp Appoints W. Steven Walker as General Counsel
The bounce-back comes amid confirmation that the Biotechnology aquaculture company has appointed veteran attorney W. Steven Walker to fill the position of General Counsel. He is also to double up as Natural ShrimpSecretary starting January 1, 2022.
Mr. Walker joins the company with over 45 years’ worth of legal experience. He has specialized in awide range of corporate,resource, and transactional law. He joins Natural Shrimp at a time it is in a phase of robust growthand looking to commercialize its products
Consequently, Walker’s counsel will go a long way in addressing day-to-day operational issues and work. The company has developed the first commercially viable system for growing shrimp enclosed in salty water systems. It also leverages patented technology to produce fresh, naturally growing shrimp.
Key Quote
“With our rapid growth and commercialization timeline, we are now at a stage where counsel is needed to quickly address day-to-day operational issues and to work with outside counsel,” said Gerald Easterling, CEO of NaturalShrimp. “Not only does Steve bring decades of deep experience in corporate and transactional law, he knows NaturalShrimp well, having served as our outside corporate counsel and board member of our holding company over the last two decades. Steve is ideally suited for this role as we accelerate weekly production and continue to develop our commercialization and sales strategy to build a strong, responsive and vibrant company.
Traders Corner
SHMP stock is trading below the 20-Day and 50-Day Moving averages of $0.34 and $0.39 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.44.
