Micro Cap Rallies On Major Debt Reduction Announcement

2024-08-20 07:00:02

(MENAFN- Yolo Wire) It’s not every day that we get to discuss major fundamental feats of companies that trade as penny stocks. This is not due to a lack of solid companies to discuss, but more or less because the majority of headlines made in the penny stock realm are usually a tad more attention-grabbing.

With that said, we did happen across a micro cap in the food industry that has found pretty significant success today after the company announced that it strengthened its balance sheet by paying off $645,668 of debts. This sent shares of Blue Star Foods Corp. (Nasdaq: $BSFC) higher on Tuesday, with shares of this Miami-based company reaching up to $1.2399/share (+11.70%) at the session high.

This move was the first sign of life from the bulls as it has been beaten down over the last few months.

%BlueStarFoods Corp is an international %Seafood company. It imports, packages, and sells refrigerated pasteurized crab meat, and other premium seafood products.

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