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Stock impact report

Tropicana Supplier to End Citrus Output on Disease, Storms [Yahoo! Finance Canada]

Alico, Inc. (ALCO) 
US:NASDAQ Investor Relations: ir.stockpr.com/alicoinc/investor-home
Most Read from Bloomberg The Florida-based company won't invest further in its citrus operations after the current crop is harvested in 2025, and instead will transform into a diversified land company, Alico said in a Monday statement. Shares of Alico were up as much as 29% on Monday, the most intraday in almost 16 years. The shift comes as Florida's citrus industry has struggled for decades from a devastating disease called greening, while hurricanes have brought continual damage to orange groves. Alico said its citrus production has declined more than 70% over the past 10 years. “We've explored all available options to restore our citrus operations to profitability, but the long-term production trend and the cost needed to combat citrus greening Read more
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