Aquaculture biotech company NaturalShrimp Inc (OTCMKTS:SHMP) has seen its stock making a steady move up the charts over the course of the past week and the trend continued on Monday. Yesterday, the NaturalShrimp stock went up by 4% and thereby took its gains over the course of the past week to as much as 8%.
The company is best known for having developed the first patented and shrimp focussed Recirculating Aquaculture System or RAS that is already operational on a commercial level. Yesterday, the company was in the news after it announced the results that had been produced from the short term validation study in Norway’s Marineholmen RASLab.
That was a significant announcement from the company and one that could eventually have far reaching ramifications for both NaturalShrimp and also for the industry at large. The study in question was meant for figuring out the effect that hyper-antioxidant technologies can have on fish health when inside a RAS.
The rally in the stock on Monday was understandable considering the fact that it is related to salmon production in fresh water. It remains to be seen if the NaturalShrimp stock can continue to move upward through the rest of the week.