Arcadia Biosciences Announces Sale Of GoodWheatTM To Above Food Corp For $4M
Portfolio Pulse from Benzinga Newsdesk
Arcadia Biosciences (RKDA) has announced the sale of its GoodWheatTM brand to Above Food Corp for $4 million. This transaction involves the transfer of better-for-you wheat products from Arcadia to Above Food.
May 16, 2024 | 12:05 pm
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Arcadia Biosciences (RKDA) has sold its GoodWheatTM brand to Above Food Corp for $4 million. This sale could provide a short-term boost to RKDA's stock price due to the influx of cash and potential refocus on other core areas.
The sale of GoodWheatTM for $4 million provides Arcadia Biosciences with additional capital, which could be used to strengthen other areas of their business. This transaction is likely to be viewed positively by investors, leading to a potential short-term increase in the stock price.
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