The Bullish Case: As world dietary preferences continue to evolve and move away from red meats, the demand for plant-based and seafood products has become higher than ever. Despite being a healthy source of Omega-3 essential fatty acids as well as a long list of other nutrients that are vital to human health, it is estimated that only 2% of the world’s current food supply comes from the oceans. That is a massive total addressable market that Mowi has before it, although investors do need to take into account that currently there are quite a few cultures that do not regularly eat seafood as a part of their regular diet. Aquaculture also has a distinctly low carbon footprint which makes it an environmentally sound way of producing food, unlike free-range or grass-fed cow farming. Mowi even breeds its own broodstock which are mature fish used in mass breeding, to help sustain the large volume of fish needed to harvest. Mowi reported a turnover of 3.8 billion Euros in 2020, and are well positioned for global growth heading into the future.