Shares of Cal-Maine Foods (CALM), the largest egg producer in the United States, soared 5.11% in intraday trading on Wednesday. The stock's rise comes despite the company's disclosure of an ongoing Department of Justice (DOJ) investigation into the recent spike in egg prices, highlighting the market's focus on the company's strong financial performance amid record-high egg prices.

Cal-Maine recently reported robust fiscal third-quarter results for 2025, with sales more than doubling year-over-year. The company attributed this performance to higher egg prices, which averaged $4.06 per dozen during the quarter, up from $2.25 per dozen a year ago. This price increase has been largely driven by an avian flu outbreak that has forced farmers to slaughter millions of egg-laying chickens, leading to supply constraints.

While Cal-Maine acknowledged its cooperation with the DOJ investigation into the causes of rising U.S. egg prices, investors appear to be more focused on the company's ability to capitalize on the current market conditions. The ongoing demand for eggs, coupled with supply challenges, continues to support higher prices and strong financial results for Cal-Maine. As the industry navigates through these challenges, Cal-Maine's position as the largest U.S. egg producer seems to be viewed favorably by the market, despite regulatory scrutiny.