Stock drops down 18%.
While the overall index is picking up after a bloody week, dominated by Corona fears, Atlantic Sapphire’s share price crashed on the Olso Stock Exchange on Monday morning.
The share is down 18 % after it was announced that the company has lost a total of 227,000 fish at its onshore fish farming facility in Hvide Sande, Denmark.
The entire company price increase over the past year has now been washed away.
Langsand Laks, which is named the company’s facility on the Danish west coast, has been a test laboratory to form the basis for the giant venture in Florida. But the years Atlantic Sapphire has operated the plant in Hvide Sande have resulted in very high mortality and loss.
Atlantic Sapphire has become a favourite for both short and long term investors over the last year and a half. However, after the fear of the Coronavirus flared up, the stock price has fallen by 36 %.
SalmonBusiness has tried, but has so far failed, to get a comment on the case from Atlantic Sapphire.