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Blue Star Foods Reiterates its 2024 Forecast of At Least 65% Revenue Growth with an Annual Run-Rate of Greater Than $20 Million
Blue Star Foods Corp. (NASDAQ: BSFC) has reiterated its 2024 forecast of at least 65% revenue growth with an annual run-rate exceeding $20 million. The company's confidence is based on a strong pipeline of existing and new business, supported by several initiatives:
1. Roll-out of gourmet meals for the U.S. Military
2. Weekly harvests at their land-based steelhead salmon farm
3. Increasing inventory levels in anticipation of revenue acceleration
4. Plans to improve soft-shell crab operations using AI and UV technology
CEO John Keeler addressed investor concerns, stating that the company is unaware of any specific reason for the stock's underperformance since withdrawing their S-1 Registration Statement on August 16, 2024. Blue Star has also strengthened its balance sheet by paying off $645,668 in debts.
1. Roll-out of gourmet meals for the U.S. Military
2. Weekly harvests at their land-based steelhead salmon farm
3. Increasing inventory levels in anticipation of revenue acceleration
4. Plans to improve soft-shell crab operations using AI and UV technology
CEO John Keeler addressed investor concerns, stating that the company is unaware of any specific reason for the stock's underperformance since withdrawing their S-1 Registration Statement on August 16, 2024. Blue Star has also strengthened its balance sheet by paying off $645,668 in debts.
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