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AquaBounty Technologies ( (AQB) ) has provided an announcement.
AquaBounty Technologies announced the appointment of David Frank as Interim CEO following the resignation of David Melbourne. Concurrently, the company will cease its fish farming operations at Bay Fortune, citing insufficient liquidity to maintain operations despite efforts to raise capital. This decision includes workforce reductions and the departure of key management. The company plans to evaluate alternatives for its Ohio farm project and continue asset sales to generate cash.
More about AquaBounty Technologies
AquaBounty Technologies, Inc. operates in the land-based aquaculture industry, focusing on fish breeding, genetics, and health & nutrition to provide innovative solutions addressing food insecurity and climate change. The company emphasizes the use of land-based recirculating aquaculture systems to prevent disease and protect wild fish populations.
YTD Price Performance: -67.44%
Average Trading Volume: 26,472
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $3.59M
Learn more about AQB stock on TipRanks’ Stock Analysis page.