Forafric Stock Slips as Traders Zero In on Cash Warning, Asset Sales
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.”