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      Farmmi Shares Surge Amid Trading of Memecoin Linked to Company

      Farmmi, a Chinese supplier of dried mushrooms, saw its shares on the Nasdaq Capital Market rise significantly on Wednesday, reaching a high of $0.50 after closing at $0.1187 the previous day. This surge coincided with the trading of a memecoin named after a mushroom variety mentioned in the company's annual report, which began trading against its tokenized shares on the Robinhood Chain.

      The tokenized version of Farmmi stock, however, is not officially linked to the actual shares. It was created by a single wallet that minted the entire supply in one transaction, retaining 38% of it. The trading of this token has been marked by significant price fluctuations, with the token reaching a peak of $1.83 in its USDG pool while the actual shares traded at $0.50, highlighting a disconnect between the two markets.

      Farmmi's stock has been under scrutiny due to a Nasdaq deficiency letter received in August for trading below the $1.00 mark for 30 consecutive days. The company has until February 2027 to regain compliance. Meanwhile, the trading of the memecoin, which has attracted considerable attention, has not resulted in any official statement from Farmmi regarding its implications for the company.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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