Australian Oilseeds Holdings (COOT) stock rocketed higher on Wednesday despite a lack of news from the company. There were no new press releases or filings with the Securities and Exchange Commission (SEC) that explained why COOT stock was up today. However, that doesn’t mean the shares rallied for no reason.
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Instead of news from the company, it appears that comments made by U.S. President Donald Trump are behind the Australian Oilseeds stock rally today. President Trump posted on Truth Social that China not buying soybeans from the U.S. is “an Economically Hostile Act.” As a result, the President said, “We are considering terminating business with China having to do with Cooking Oil, and other elements of Trade, as retribution. As an example, we can easily produce Cooking Oil ourselves, we don’t need to purchase it from China.”
President Trump’s comments sparked a rally across the food supply sector, especially among those that produce cooking oils. Other food supply stocks that were affected include Sadot (SDOT), Pinnacle Food (PFAI), and Origin Agritech (SEED).
Australian Oilseeds Stock Movement Today
Australian Oilseeds stock was up 364.25% in pre-market trading on Wednesday, following a 46.21% rally yesterday. Even so, the shares were down 18.91% year-to-date but were up 28.84% over the past 12 months.
Today’s news also came with heavy trading for COOT stock. As of this writing, more than 89 million shares have changed hands, compared to a three-month daily average of about 503,000 units.
Is Australian Oilseeds Stock a Buy, Sell, or Hold?
Turning to Wall Street, analyst coverage of Australian Oilseeds is lacking. Fortunately, TipRanks’ AI analyst Spark has it covered. Spark rates COOT stock an Underperform (36) with a 50-cent price target. It cites “severe financial and operational challenges” as reasons for this stance.
