AquaBounty Technologies to Cease Operations

AquaBounty Technologies, Inc. has announced plans to cease all fish farming operations at its Bay Fortune facility due to insufficient liquidity, leading to the culling of remaining fish and a significant reduction in its workforce. Interim CEO David Frank stated that efforts to raise capital over the past year, including potential sales of farms and equipment, have not succeeded. Consequently, the company will wind down operations and has seen the departure of CEO Dave Melbourne and other senior executives. The company intends to assess alternatives for its Ohio farm project while continuing to market its available assets. AquaBounty's stock has significantly declined, trading under 60 cents, down from a 52-week high of $3.05. This closure marks a significant shift for a company that had previously aimed to lead in land-based aquaculture.