NEW YORK, June 5, 2026, 19:04 EDT
Forafric Global PLC shares were last at $9.78 after the Nasdaq close on Friday, down 10 cents from the previous close, with 15,752 shares changing hands. The stock opened at $9.95.
The move mattered because AFRI was trading in a rough tape, not in a vacuum. U.S. stocks fell sharply after a stronger-than-expected May jobs report hit rate-cut hopes; the Nasdaq Composite dropped 4.18%. Ryan Detrick, chief market strategist at Carson Group, told Reuters that “the dam just broke today,” while Ohsung Kwon at Wells Fargo said the selloff was “more driven by positioning than fundamentals.” Reuters
For Forafric, the bigger issue is still its balance sheet. Its May 15 annual report showed 2025 revenue from continuing operations fell 35.6% to $176.5 million, while net loss narrowed to $13.8 million from $23.4 million. The auditor raised “going concern” doubt — accounting language that questions whether a company has enough support to keep operating normally over the next year.
The company tied the revenue drop mainly to lower crushed volume in Moroccan soft wheat and durum wheat, citing a lack of working-capital financing. Working capital is the cash a business needs to buy inputs, run plants and cover bills before customers pay.
Forafric has been trying to raise cash and simplify the group. The filing said it sold a logistics subsidiary in August 2025 for about $8.3 million and long-term assets tied to a durum wheat milling operation in March 2026 for about $18.7 million. It also said Cap Holding may take a controlling interest in Forafric Maroc after Moroccan antitrust approval, though completion still needs board approval and other closing conditions.
Forafric is a Moroccan industrial group focused on wheat processing, with activities that include trading and storage, milling and animal nutrition. Its products include flour, semolina, pasta and couscous.
The company is also trying to push beyond its old milling base. In April, Forafric said it would pursue opportunities in food security, defense and energy infrastructure through partnerships, joint ventures and selective investments.
The competitive read-across was mixed. Broader agribusiness names Archer-Daniels-Midland and Bunge Global also fell Friday, down $2.44 and $2.96 respectively, while packaged-food company General Mills rose 95 cents. That split makes Forafric’s move less a clean food-staples trade and more a small-cap liquidity story wrapped in a weak market day.
But the downside case is still plain. A delay or failure in the Cap Holding transaction, another squeeze in working capital, or higher wheat, freight, currency or power costs could put the stock back under pressure. Asset sales may help cash, but they can also leave less operating base behind.
The next watch point is likely a filing or closing update, rather than a single price tick. For now, the shares sit near $10, with investors weighing a smaller loss against the harder question: whether Forafric can turn restructuring into durable liquidity.
