Loop Industries erases some losses after short-ignited sell-off

Loop Industries

16/12/2020 16:20

** Loop Industries  LOOP.O  shares rebounded somewhat on
Wednesday and were last up 8.6% after falling 22.3% in the
previous session after a negative report from a shortseller
    ** Canadian plastics production company Loop last traded at
$7.86 after trading as high as $8.56 earlier in the session.
Trading volume was 3.1 times 10-DMA 
    ** Stock had traded at $9.32 before the Tuesday sell-off
after short seller Hindenburg Research issued report questioning
co's process for recycling plastic  urn:newsml:reuters.com:*:nL1N2IV2DO
    ** Loop director of marketing and investor relations
Stephanie Corrente responded to Reuters request for comment in
an email saying the company stands by its technology and looks
forward to moving ahead with plans to bring it to commercial
scale with its partners
    ** Corrente also cited independent verification of its
technology by Kemitek

 ((sinead.carew@thomsonreuters.com; +1 (646) 223 6186; Reuters
Messaging: sinead.carew.thomsonreuters.com@reuters.net))