Salmon companies suffering on stock exchange

Who would have thought that the success experienced by Invertec two years ago when it sauntered onto the stock market, and soon after was selling shares at nearly US$1 each (very big money from the local perspective), would today shrink to be worth US$0.60 per share. The drop of course has been more of a bungee-jump than a tragic fall, and the small numbers does not surprise the company. With the media releasing news nearly every week about the ISA virus, the overall drop in production, the worker lay-offs and plant closures, it isn't the right moment for Chilean salmon producers to be talking or selling big. As for Multiexport Foods, the company that made its debut on the stock exchange in June of 2007, it started selling at US$0.55 per share and shortly thereafter jumped to US$0.70, but that was July of last year. This month, the company's worth on the scoreboard fell 9.37%. In June the company fell 11%. Both of these companies however, despite the sobering numbers are still well poised within the global salmon market and expect to weather the storm that the local industry is facing without much catastrophe.