Why Danimer Scientific Stock Fell 17% at the Open Today

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Shares of Danimer Scientific (NYSE: DNMR) dropped a quick 17% as trading got underway on March 30. The news likely driving the decline was the company’s after-the-market earnings release on March 29, the first quarterly report of its public life.  

Danimer Scientific, which is involved in making biodegradable plastics, came public through a blank check company in the last few trading days of 2020. That means its fourth-quarter 2020 earnings report was its first as a public entity, though for most of the period it wasn’t actually public. Basically, this report is setting something of a benchmark for future periods. Investors don’t seem to be too pleased with the results.  

Image source: Getty Images.

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