A big jump in JBEs fertilizer spiked on April 12, and many are questioning whether it’s the end of the line for the company’s fertilizer business.
JBE is a major fertilizer supplier to many agricultural markets in the US, including corn and soybean.
However, it’s also been on a steady decline in recent years.
The fertilizer company’s stock dropped more than 20% over the last year, while the value of the company has been in freefall for more than two years.
The stock is now worth less than $7.50, which is about $4.10 below its peak on the morning of April 12.
JBeats stocks fell more than 8% over that period.
Jobe Foods Inc., the company that makes the JBE brand of fertilizer, has a long and troubled history.
In 2011, the company pleaded guilty to a federal criminal charge of misbranding and conspiracy to commit mail fraud, but that wasn’t enough to get it off the hook.
Instead, the Department of Justice indicted JBeATS chairman and CEO James Jobe in February 2018.
The company has faced multiple criminal charges in recent months, including a federal investigation into its handling of ammonium nitrate fertilizer, which has been linked to more than 1,400 deaths across the country.
In December, a jury found JBeAT guilty of fraud and wire fraud related to the tainted fertilizer, but the company faces a potential sentence of more than a decade in prison.