DNMR - Why Danimer Scientific Stock Soared This Week
2023-03-31 14:17:57 ET
Danimer Scientific (NYSE: DNMR) investors had a great week as shares soared 28% through early Friday trading. That's as compared to a 2.9% rally in the wider market, according to data provided by S&P Global Market Intelligence . The volatile bioplastics specialist is now up over 80% so far in 2023.
This week's rally was powered by a warm Wall Street reception to management's latest earnings update.
Executives said on Tuesday that Q4 sales declined to $15.3 million from $17.7 million a year ago. The company continues to lose money as it ramps up its scale, but its adjusted EBITDA losses improved to $8.6 million from $10.2 million in the prior-year period.
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Why Danimer Scientific Stock Soared This Week