Why Origin Materials Stock Popped Today
Shares of Origin Materials (NASDAQ: ORGN) briefly popped by as much as 11% today after the company reported second-quarter earnings. As of 12:25 p.m. EDT, the stock had given back some of those gains but was still up 5%.
Origin Materials, which recently completed its merger with a special-purpose acquisition company (SPAC), is still pre-revenue and did not generate any sales. Operating expenses were $6.7 million, but the company recorded net income of $62.5 million due to the change in fair value of warrants and earnout liabilities.
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Source Fool.com
