In the past month or so, the AgriFORCE Growing Systems Ltd (NASDAQ:AGRI) stock has had a pretty difficult time as it suffered from a strong selloff. During the course of this period, the stock declined by as much as 28% and it is perhaps time for investors to figure out if it might be the right time to get into the stock.
The company is involved in the agriculture technology space and is involved in providing facility design as well as automation services for high value agricultural product. Back on July 22 the company announced that its existing employee Troy McClellan was promoted and made the President of the AgriFORCE Solutions unit at AgriFORCE. It is a major new appointment from the company and is expected to be a factor in the future growth of the company. However, at the same time, it is important to keep in mind that the stock has not performed well in the days after the announcement. McClellan is going to be responsible for the commercial development strategy at the company and it is quite clear that his work with the unit is expected to be a cornerstone of AgriFORCE’s future.