Genetically Engineered Salmon?
AquaBounty $AQB is a Salmon Fisheries Project having farms in both the U.S and Canada. After 20 years of patiently waiting, this company has received Good News! This genetically modified Atlantic Salmon has been approved by the FDA to sell in the commercial markets to meet the global demand for Salmon. AquaBounty received the FDA Approval for their genetically modified Salmon, the AquAdvantage® Salmon for human consumption in 2015. Health Canada has also given its approval it in 2016. People have been eating genetically modified crops for some time now. So why not Salmon? is the question on many people’s minds.
Presently, all the Atlantic Salmon is imported from Norway, Chile, and Canada. In the U.S, wild Atlantic Salmon is considered an endangered species and the fishing of Atlantic Salmon is deemed illegal.
The project to genetically alter Atlantic Salmon began almost thirty years ago in New Finland, Canada. Physiologist, Garth Fletcher and his team from the Memorial University’s Ocean Sciences Center, a leading Marine Research lab, struck upon the idea of genetically modifying Atlantic Salmon based on an experiment he read where they altered the genetics of a mouse.
Growth Comparison of the GE and Regular Farm Grown Atlantic Salmon:
After 2 years (24 months) the Aqua Advantage GM (genetically modified) Salmon weighs 11 Lbs. (5 Kgs) while the regular farm Salmon is about 3.3 lbs. (1.5 Kgs). This distinct growth advantage is due to a natural gene injected into the egg from another cold water fish called the Ocean Pout.
Aqua Bounty Technologies, Inc. is a engaged in the research, development and commercialization of the viability of a group of proteins, focused on the managing of aquaculture productivity. It offers the AquAdvantage Salmon (AAS), that are grown in land-based farms. These farms are built closer to consumers to reduce the carbon footprint and eliminate air freight, shipping and long hours of transportation. The Company’s subsidiaries include AquaBounty Canada, Inc., a commercial biotechnology laboratory that conducts research and development programs; AquaBounty Panama, S. de R.L.; AquaBounty Farms, Inc.; AquaBounty Farms Indiana LLC, and AquaBounty Brasil Participacoes Ltd., which conducts commercial trials of the Company’s AquAdvantage Salmon. (Source: Aqua Bounty Technologies).
Can this genetically altered Salmon solve the shortage of Atlantic Salmon and feed the global population? With the genetically altered salmon boasting faster growth rates and a bigger fish in just two years, Aqua Bounty Technologies, a Biotechnology company is setting its eyes far into the future. Having gotten the FDA approval after 20 long years, this company can now make its Atlantic Salmon widely available, both in grocery stores and restaurants. Also the matter of acceptance regarding GM Salmon is a hurdle that has to be overcome. Will this Salmon gain worldwide acceptance?
But before we put on our “Doomsday hats,” imagine the positive possibilities. AquaBounty has flavorful salmon recipes on its website. One of my favorites is the Salmon Nicoise Salad. There are a total of 20 yummy Salmon recipes for foodies on there. Click the above links to visit their recipe page after you finish reading this article :)
Considering Buying the Stock:
Aqua Bounty Stock is registered and traded in the NASDAQ exchange. Towards the beginning of 2019, this stock was trading at $1.52. Since then it has reached a 52-week high of $13.32/- It’s market cap is at $573.30 Million (half a billion plus). 49.73% of institutions hold this stock, a healthy sign.
$AQB current price $10.33/- (up $0.36 / 3.61%) (as of Feb 1, 2021).
Cathie Wood with ARK Investing is interested in the $AQB stock. It is part of the Genomic ETF $ARKG. She is of the opinion that this stock will climb higher as the demand for GE (genetically engineered) Atlantic Salmon gets hot, and a real need is met, fulfilling the global shortage for this fish.
Levi & Korsinsky Law Firm announces it has commenced an investigation of AquaBounty Technologies, Inc. (NASDAQ: AQB) concerning possible breaches of fiduciary duty. Fiduciary duty is defined as, “A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties.” So this case could have minor implications. You decide! It all depends on what relationship was breached, the damages the other party is claiming and for how much. There are always obstacles in the way of a company’s growth. This should be expected, but it’s not the be all and end all.
To get additional information, go to: https://www.zlk.com/compensation2/aquabounty-technologies-inc-information-request-form
Do your due diligence before buying this stock. Buy this stock if it suits your investing needs. Thank you for reading.
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