NaturalShrimp Inc (OTCMKTS: SHMP) is trading sideways, months after unveiling a revolutionary method for growing and harvesting natural shrimp while avoiding major environmental issues. After an excellent start to the year, the stock has experienced a major correction.
NaturalShrimp Price Analysis
A 70% plus plunge leaves the stock close to where it started the year at, vulnerable to further drops given the emerging downtrend. The plunge has come even on the company achieving significant milestones on the development of its patented technology for growing natural shrimp.In the recent past, the company has expanded the technology’s capability to include additional saltwater species. In February, the company had to place additional equipment order to facilitate shrimp harvest, following the expansion at Lacoste Texas facility.Amidst the flurry of activities, the stock has continued to edge lower and now find itself at a critical technical level. A sell-off followed by a close below the $0.20 mark could leave the stock susceptible to further drops, on the acceleration of the sell-off wave.NaturalShrimp needs to hold above the $0.20 mark if it is to have any chance of bouncing back after the major correction. A rally-followed by a close above the $0.27 mark should reaffirm the stock’s bounce back credentials. SHMP Daily ChartThe $0.27 mark is the immediate resistance level standing in the way of the stock resuming its upward run, as was the case in the first quarter.
About NaturalShrimp
NaturalShrimp is an agricultural company engaged in the production of naturally grown shrimps in the U.S. Headquartered in Dallas Texas, the company has production facilities near San Antonio. In the facility, it boasts of the first commercially viable system for growing shrimp in salt water systems.
SHMP Marketing Campaign
Even as NaturalShrimp has continued to take a hit in the market, the company has continued to work on its revolutionary technology for growing shrimp. Plans are already underway to embark on a commercialization drive.The company has confirmed the appointment of Douse Ledema as the Corporate Chef as part of an expanded marketing program. His task under the new role will include developing relationships with Chefs as well as creating menus and recipes as part of an effort of branding NaturalShrimp products.The company is embarking on an aggressive marketing campaign as it seeks to market its Natural Shrimp in Food shows as well as other major events
“I am honored to be the Corporate Executive Chef for NaturalShrimp. No shrimp can be compared with ours. The word natural says it all. Our shrimp are sweet, buttery and clean. Shrimp should taste this way. All white Pacific shrimp have a sweetness to them – ours a little more,” stated Mr. Ledema.
Increased Shrimp Harvesting
As the company embarks on the commercialization drive, it has received two additional EC shrimp water, treatment systems that will be used to accelerate production at the Texas facility. The new equipment should allow the company to add additional harvest to the current capability.The company remains well positioned to meet the huge consumer demand, yearning for natural shrimp. Ever since the company shipped, approximately 275 pounds of fresh shrimp to Northridge Country club in March, orders have been streaming in.
“There is a huge consumer demand for our product,” said Bill G. Williams, CEO. “This expansion will allow NaturalShrimp to significantly increase the amount of fresh shrimp we can produce.”
The company’s shrimp produce stands out in part because it is produced and harvested using proprietary technology that eliminates water-borne bacteria as well as other harmful organisms. The Vibrio Suppression Technology system also allows other aquatic species to grow and thrive in an indoor all-natural environment.
“What we are bringing to not only the U.S. but internationally, is a safe way to grow shrimp that solves these major environmental problems. Ours is a disruptive revolution in the growing and harvesting of this vital seafood,” explained Mr. Williams.
Bottom Line
NaturalShrimp is bounce-back play given the steep pullback that has come into play in recent months. The company moving to commercialize its natural shrimp as well as proprietary technology should continue to excite investors and improve market sentiments.The stop has found support at the $0.20 level, above which it remains well supported for a move higher.We will be updating our subscribers as soon as we know more. For the latest updates on SHMP, sign up below!Disclosure: We have no position in SHMP and have not been compensated for this article.
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