Origin Materials Inc (ORGN)

Origin Materials Inc Stock (ORGN) dropped by 18.3% from $1.08 to $0.8825 in the trading on Friday October 10, 2023. The reason why ORGN stock down today include:

• Operating and Financial Results for Third Quarter 2023: Origin Materials reported Q3 EPS of $0.22 may not be comparable to consensus of -$0.12. Revenue of $7.14M, missing the consensus by $7.75M.
• 2023 Outlook: The company intentionally scaled back its supply chain activation business because, although it has long-term strategic value, it has low short-term margins and high working capital requirements. Additionally, some joint development programs expected to close in 2023 are now expected to close in 2024. Therefore, the Company now expects 2023 revenue of $25 million to $30 million versus $40 million to $60 million.

Origin Materials Inc Stock (ORGN) dropped by 8.59% from $1.28 to $1.17 in the trading on Monday October 02, 2023. The reason why ORGN stock down today is due to the leadership transition. Origin Materials has announced the appointment of Matt Plavan as Chief Financial Officer, effective October 30, 2023. Mr. Plavan succeeds Pam Haley, who has served as interim Chief Financial Officer since September 1, 2023. Ms. Haley will continue in her role as Senior Vice President of Accounting and Finance.

Origin Materials (ORGN) fell 66.4% from $4.33 to $1.46 in Thursday's trading after announcing it is delaying the timeline and raising the costs for the completion of its second commercial plant.

https://seekingalpha.com/news/4001908-origin-materials-sinks-72-in-two-days-as-project-faces-lower-profit-higher-capex

Shares of Origin Materials (ORGN) declined 6.00% from $4.67 to $4.39 as the company announced that Chief Financial Officer Nate Whaley will be departing the Company and the Company has initiated a formal search process for the selection of its new Chief Financial Officer.

https://finance.yahoo.com/news/origin-materials-announces-chief-financial-110000551.html

Origin Materials (ORGN) stock was down 5.49% from $4.37 to $4.13 after Origin Materials and Minafin Group launch manufacturing initiative for Origin's first commercial plant.

https://finance.yahoo.com/news/origin-materials-minafin-group-launch-110000739.html