Ag Growth International (AFN) fell 40% on Friday after management pulled guidance and delayed filing Q3 results for the second time in as many weeks…

… related to issues closing the books on its operations in Brazil. The segment has been instrumental to AFN’s international growth…

… particularly on the commercial side of the business…

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We are extremely encouraged about the performance that we’re seeing down in Brazil on the Commercial segment… we did see revenues in Q1 versus prior year, up over 100%.

Paul Householder (CEO) - AFN Q1’25 call

… so any disruptions could materially impact performance in the segment - magnifying the growth headwinds AFN’s farm unit is facing from tariffs.

That’s the fundamental worry, but the big question mark is if there’s a regulatory concern here. With a new 60-day filing target set by management…

… the chart should be choppy until we find out.

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