Spaghetti and organic foods… could this be the one remaining recession-proof sector?
Today's Financial News - Posted February 20, 2009
Where does the money go? Try American Italian Pasta Company (NASDAQ:AIPC)… or Amish Naturals, Inc. (OTC:AMNT)—maybe!
by J. Christoph Amberger
Baltimore—TFN: American Italian Pasta Company (NASDAQ:AIPC) has increased its shareprice 800% from a 52-week low around $4, to now trade at above $32. That’s about 60 times more than you’d pay for Fannie Mae, 15 more than you’s pay for Ford, or three times the price of a share in GE.
The company is the largest producer of dry pasta in North America and just announced results from its 2009 Annual Stockholder Meeting held today in Kansas City, Missouri. They’re not earthshaking… and go nowhere near explaining what exactly is driving this meteoric rise… beyond the back-to-basics, eat-at-home grocery budgets of American households.
I couldn’t help but noticing that the organic and wholly biodegradable pennystock Amish Naturals, Inc. (OTC:AMNT) has also almost tripled, to 2.7 cents a share. Then again, given AMNT’s dramatic decline over the past year, I guess there may be no way but up.
Do I hear 3 cents, anyone?
Next Article: Three Top Real Estate Profit Plays for 2009
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