Australia's Ecofibre rises on supply agreement with Under Armour

Ecofibre

31/07/2023 02:31

** Shares of Ecofibre Ltd  EOF.AX  rise as much as 105.9% to
A$0.350, posting their biggest intraday pct jump 
    ** The industrial hemp co says its specialty manufacturing
division, Hemp Black, has agreed on a memorandum of
understanding (MOU) with apparel maker Under Armour Inc 
    ** Under the MOU, unit will supply Under Armour a specialty
yarn for apparel use 
    ** Ecofibre shares hit highest level since Nov 23, 2022
    ** Stock down 26.1% YTD, as of last close 
   

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))