Behind the three letters FAMI is Farmmi, a Chinese mushroom exporter listed on Nasdaq. This is the kind of company that wouldn't normally be on anyone's radar until its stock price soars 350% in one day and then gives back those gains almost as quickly.
What really makes people take a second look is not the increase or decrease itself, but the trading volume. The number of FAMI shares traded that day exceeded 720 million shares, a nearly 90-fold increase compared to the normal daily average trading volume. This kind of energy usually only appears in stocks that are targeted by community or program trading, rather than in a micro-enterprise that trades shiitake mushrooms.
The stock price fell quickly after rising high, and the trend was very similar to the common meme stock script on social platforms-it was pushed up by a large amount of money in a short period of time, and then was driven back to the original point by selling pressure in the same short period of time. Public information currently does not explain what triggered this wave of transaction volume, and Farmmi officials did not respond.
