Origin Materials Stock Is Plunging Thursday: What's Going On?
Portfolio Pulse from Adam Eckert
Origin Materials Inc (NASDAQ:ORGN) shares plunged after the company reported mixed Q2 results and highlighted challenges impacting the construction progress at one of its facilities. The company reported Q2 revenue of $6.9 million, missing estimates of $7.03 million. It also reported a quarterly loss of 5 cents per share, beating estimates for a loss of 12 cents per share. The company announced a phased approach to the construction of its Origin 2 plant due to increased costs and supply chain constraints.
August 10, 2023 | 12:29 pm
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Origin Materials' shares plunged due to mixed Q2 results and construction challenges. The company's decision to adopt a phased approach to the construction of its Origin 2 plant due to increased costs and supply chain constraints may also impact the stock.
Origin Materials' shares plunged due to mixed Q2 results and construction challenges. The company's decision to adopt a phased approach to the construction of its Origin 2 plant due to increased costs and supply chain constraints may also impact the stock. This could lead to a decrease in investor confidence and a potential drop in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100