What's Going On With Origin Materials Stock Today?
Portfolio Pulse from Ryan Gustafson
Shares of Origin Materials, Inc. (NASDAQ:ORGN) dropped on Monday following the recent appointment of Matt Plavan as CEO. The company experienced above-average trading volume of 5.71 million shares compared to its average volume of 2.67 million. The stock also has increased short interest with 7.55% of shares currently sold short. Shares of ORGN were down 20.6% at $0.89 at the time of publication.
October 09, 2023 | 8:15 pm
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NEGATIVE IMPACT
Origin Materials' stock price dropped following the appointment of a new CEO. The company also experienced an above-average trading volume and increased short interest.
The appointment of a new CEO often leads to uncertainty in the market, which can negatively impact the stock price. Additionally, the above-average trading volume and increased short interest suggest that more investors are betting against the stock, which can further drive down the price.
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