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Bubs Australia (BUB) 68c

UPDATED 30/05/2022 17:06

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BUB +40.21%: the infant formula company received FDA approval to sell tins into the US market today. America has been battling a shortage in infant formula after several brands were forced to recall products that had led to bacterial infections in a number of kids while supply chain issues have compounded the problem. As a result, the FDA fast-tracked the process to have seven of Bubs’ products available for sale in the states with 500,000 tins ready for immediate exportation. Bubs have confirmed an additional 750,000 tins would be made available in the coming months while also looking to increase production at their FDA registered facility to triple capacity. Heading into the announcement, Bubs had around 13m shares short sold, contributing to the early spike in the share price.