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Itaconix – “delighted to announce the launch of two new ingredients”, but how delightful for investors?

By Steve Moore | Monday 29 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.

Previously writing on company describing itself as “a leading innovator in sustainable plant-based polymers used to decarbonise everyday consumer products” Itaconix (ITX), early this month with the shares falling below 200p I concluded including now how’s its ‘has the funds needed to achieve our profitability goal’ statement after also it previously having stated intended “move to being cash generative by 2020”!. So what about today the shares currently up more than 4.5% on a “Launch of two plant-based performance ingredients” announcement?

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