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Itaconix – “unable to reach satisfactory commercial terms with one of its major existing merchandizing customers”. Uh oh!…

By Steve Moore | Tuesday 2 April 2024

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Describing itself as “a leading innovator in sustainable plant-based polymers used to decarbonize everyday consumer products”, Itaconix (ITX) has issued a “Trading Statement” announcement commencing that “following extensive negotiation, it has been unable to reach satisfactory commercial terms with one of its major existing merchandizing customers in North America for supply in 2024”, though emphasising that “enhancing our revenue structure and increasing gross profit margins, while impacting our near-term revenue streams, pave the way for our next stage of growth”. So what about this currently seeing the shares more than 25% lower to below 200p?
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