Marrone Bio Innovations (MBII) took a dive today on August 8. Based on the intraday price of $5.40, the company fell 43% as it announced its latest earnings report and the surprise announcement of the COO's resignation due to personal reasons. Poor market conditions in the Southeastern US also did little to bolster near-term prospects.
Marrone Bio Innovations is a bio-based pest management and plant health company primarily offering solutions in crop protection and water treatment. The company's initial branded product lines are those of Regalia, Grandevo, Zequanox, and Venerate. It's initial sales will largely focus on a fungicide, insecticide, and aquatic molluscicide.
The company is now working on a facility that will vastly...
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