November 23, 2009
– Comments (5) |
RELATED TICKERS: SEED
Thats all that needs to be said,.
It certainly isn't. What in the world is the story here? Approval for what? Is saying "That's all that needs to be said" some kind of joke? What the heck is going on?
Whatever the heck is going on, I just bought a Dec straddle.
90% gain?! Oy!
Well here is the news blip:
"Shares of Origin Agritech Ltd. (SEED) leapt to their highest point since February 2008 after the Chinese company said it had received final approval from China's government for its genetically modified corn seed."
I'm guessing this is why FEED is also rocketing upward today!
Sold my SEED this morning as a 2-bagger, then it went up a bit more. The big break though is- approval of a genetically modified seed corn that reduces nitrient additive requirements, thus cost and contamination risk. More similarly modified seed species soon to follow. I plan to buy SEED again as it pulls back after this current euphoria wanes. This is just the first gush of what's in their pipeline. Is food the next oil?