The share price of R&B Food Supply Public Company Limited (SET: RBF) rose THB2.20/share or 10.58% to THB23.00/share as of 15.44 hrs. local time in Thailand, with a trading value of THB823 million.
Finansia Syrus Securities (FSS) said that an upbeat in RBF’s share price was probably due to the company beginning hemp cultivation in October 2021, and the harvest scheduled for January 2022. The company will then begin the extraction process of CBD-THC for distribution to clients. This would boost RBF’s profitability in 2022.
However, the share price has climbed over the given target price of THB21, therefore FSS warned investors to invest cautiously and focus on short-term speculation. Support and resistance levels are set at 23.50 baht and 21.80 baht, respectively.