Farmmi (FAMI) Stock Pumped 350% Because of a Mushroom Memecoin

TLDR

• Farmmi stock surged as much as 350% on September 2, briefly hitting $0.50 from a closing price of $0.12 the day before.
• The spike was triggered by a memecoin called JINQIAN, named after one of Farmmi’s mushroom products, launched on Robinhood Chain.
• The FAMI token paired with JINQIAN is not an official Robinhood stock token and was independently issued by an anonymous user.
• At its peak, the memecoin hit an implied valuation of around $60-70 million, roughly 10 times Farmmi’s actual market cap.
• The stock gave back most gains, closing near $0.15, while the memecoin collapsed over 90% from its peak.

Farmmi (FAMI) stock had one of the stranger trading days of 2026 on September 2, with no earnings, no deal, and no company announcement of any kind.

Farmmi, Inc., FAMI

The stock opened near $0.12, the same price it closed at on Tuesday. By mid-morning it had hit $0.50, a rise of around 350%.

The catalyst? A memecoin.

A token called JINQIAN launched on Robinhood Chain, named after the “jinqian” or “money” mushroom that Farmmi sells. It was paired against an onchain token using Farmmi’s FAMI ticker.

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