Shares of AquaBounty Technologies (NASDAQ: AQB) went up 13.8% in January, according to data provided by S&P Global market Intelligence . However, the stock at one point traded over 30% higher before a stock offering caused a mild sell-off late in the month. But AquaBounty was motivated to do the offering because it needs the cash for the capital intensive year that lies ahead.
As the global population expands, many see a growing need to sustainably source animal protein. AquaBounty Technologies aims to farm modified salmon in land-based tanks. These salmon grow faster and require less feed than their wild counterparts. And these advantages have some investors buying the stock.
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Here's Why AquaBounty Technologies Stock Went Up 14% in January