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Why Danimer Scientific Stock Soared This Week

TheMotleyFool

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Why Danimer Scientific Stock Soared This Week: https://g.foolcdn.com/editorial/images/726707/scientists-examine-cell-make-up-microscope-biotech.jpg

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.

Source Fool.com

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