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Highlights
- Farmmi Inc’s (NASDAQ:FAMI) revenue came in at US$17.79 Mn in the first half of FY21.
- Grom Social Enterprises Inc’s (NASDAQ:GROM) sales were US$1.38 Mn in the June quarter.
- The stock value of GROM surged 79.32% YTD.
Stocks of Farmmi, Inc. (NASDAQ:FAMI) and Grom Social Enterprises Inc. (NASDAQ:GROM) caught investors' eyes on Thursday, September 30. The FAMI stock surged around 39 percent, while the GROM stock rose by more than 11 percent.
FAMI was priced at US$0.473, up 39.12 percent, while GROM traded at US$3.8119, up 11.46 percent, at around 9:55 am ET from their previous closing prices on September 29.
Let's explore the details of the stocks.
Also Read: Five social media stocks transforming the communication industry
Farmmi, Inc. (NASDAQ:FAMI)
Farmmi is a Lishui, China-based company that has interests in the processing and selling of agricultural products in China and other countries. It produces products like wood ear mushrooms, chestnut mushrooms, etc.
On Wednesday, the company had issued an updated CEO letter, in which it announced to undertake a business expansion drive through acquisition. It plans to enhance growth while focusing on expanding opportunities through its acquisitions.
Farmmi has a market cap of US$10.00 million. Its highest and lowest stocks prices for the last 52-week were US$2.47 and US$0.20, respectively. Its trading volume was 792,172,200 on Sep 29.
The company's revenue came in at US$17.79 million in the first half of fiscal 2021, compared to US$13.58 million in the same period of the previous year. Its attributable net income came in at US$1.36 million, compared to a loss of US$0.06 million in the first half of fiscal 2020.
Also Read: Boeing (BA), Dollar Tree (DLTR) stocks jump on PBL deal, share buyback
Source: Pixabay
Grom Social Enterprises Inc. (NASDAQ:GROM)
Grom Social Enterprises is a media, technology, and entertainment company based in Boca Raton, Florida. It provides a secure parents-monitored platform for children under 13 years.
However, the stock’s sudden surge on Thursday might have surprised the market observers.
The stock may have drawn interest due to the platform’s special parental monitoring feature. But other social media stocks like Paltalk (NASDAQ:PALT) and DatChat (DATS) have also attracted investors' focus recently.
Also Read: US stocks wrap up day mixed as defensive sectors gain
Grom’s market cap is US$48.82 million. The 52-week highest and lowest stock prices were US$6.73 and US$1.71, respectively. Its share volume on September 29 was 50,415,620.
Grom’s Sales
The company's sales came in at US$1.38 million for the quarter ended on June 30, 2021, compared to US$1.74 million in the year-ago period. It reported a loss of US$2.50 million, compared to a loss of US$0.95 million in the same period of the previous year.
Also Read: Five restaurant stocks to keep an eye on beyond 2021
Bottomline
The US stock markets and their global counterparts have seen significant growth this year, driven by strong government and private investments. However, the FAMI stock plunged 70.18 percent YTD, while GROM ticked up 79.32 percent YTD. Nevertheless, investors should carefully evaluate the companies before investing in stocks.
