This reaction has no sense. CQB warned and FDP have not said nothing and went down 20%. Today CQB is up 8% and FDP that continues mute, is up only 4.5%!
If food goes up, who is finally having to pay the extra price? Will the company assume the losses?
CQB warned because of bad weather in Central America and Ecuardor. FDP recently bought fruit plantations in Costa Rica. I have been checking the Costa Rica news and have not found news because of flooding.
I returned last week from South America and there were severe weather in Colombian Cost (where CQB has big plantations), but not in Costa Rica.
The MM found and excellent opportunity here to short and cover at a ridiculous price.
It doesn't make sense why this would tank along with chiquita. Looks like a buying opportunity to me. I bought some today. Hopefully there is another bounce on this thing tommorrow or for the rest of the week for a nice profit.