$SPRT - Freshest vertical farming IPO on the market $SPRT is a company that just had its IPO this week. They’re a vertical farming company (aeroponic) that's combining tech and AI with plant cultivation. What makes me interested is the individual habitat system that gives them an edge over other types of vertical farming methods like hydroponics.
- Can be set up nearly anywhere where there is space available (habitats are sealed)
- Individual habitats minimize cross-contamination so more varieties of plants can be grown.
- It uses 95% less water, and quality is consistent because it’s easy to replicate grow cycles.
- Rolling racks allow for more space optimization in a facility
- Year-round growth and income from any type of crop
The global vertical farming market is estimated to reach $12.4B by 2026 (CAGR of 24.8%). A growing population and a call for healthier food (organic and fewer pesticides) have helped increase interest in the sector. With the exponential growth in the vertical farming industry and $SPRT utilizing AI/individual systems, I’m expecting big things to come in the future.
Currently, the stock is sitting at $0.76 after opening up at $0.72 on Monday. I’m holding my shares of this one for the long term as they continue moving forward.
Take a look at this article I found on vertical farming and its benefits: https://www.indianaenvironmentalreporter.org/posts/vertical-farms-hold-promise-for-local-sustainable-produce