Why Loop Industries (LOOP) Stock Fell 8.5% After Hours On Tuesday - Loop Industries (NASDAQ:LOOP)

Loop Industries, Inc.

(NASDAQ:LOOP) shares are trading lower after hours Tuesday after the company raised substantial doubt about its ability to continue as a going concern and said it will need additional financing.

LOOP shares fell 8.5% in after-hours trading to $0.92 after closing the regular session at $1.00.

Loop Industries is a recycling technology company that turns PET plastic waste and polyester textiles into recycled materials for packaging, clothing and other products.

The company is working to commercialize its technology through projects in India and Europe.