Why Cal-Maine Stock Popped on Wednesday
Cal-Maine Foods (NASDAQ: CALM) stock flew more than 7% higher in early trading Wednesday before settling back to roost on a 2.7% gain as of 10:55 a.m. ET. America's largest producer of eggs in the shell, Cal-Maine appears to be reacting to bombshell news from the Trump administration:
To solve the egg shortage, we're importing eggs.
Fears over avian flu infecting U.S. chickens and spreading to humans led the Biden administration to order the killing of upward of 140 million egg-laying hens over the past three years. This depleted egg-laying flocks, causing an undersupply of eggs -- and Econ 101 teaches us that when demand is constant but supply falls, prices rise.
Source Fool.com
