Mentorbuilt News: Plastic bag manufacturer stocks down 11% as the rumor that FRC is dropping the bag spreads

New York, NY - Several stocks in the oversize plastic bag sector are sagging (- 11%) today as rumors spread that the FIRST Robotics Competition will be announcing the termination of their robot bagging policy as early as next week.

With several large municipalities announcing consumer plastic bag bans in recent years, plastic bag manufacturers have been retooling for other sectors. One of the healthiest growth markets for the past decade has been the FIRST Robotics competition and their use of large plastic bags to ensure that students can't work on their machines after the critical time frame of "six weeks"*.  However, in recent years there has been a lot of research into this bagging policy and to what effect it has on the students and on the robots. One report found "looking longingly at bagged robot provides no inspirational value." These new reports have led many to believe that the bag policy will be ending soon and markets are responding in kind.

Jasmine Arthur, President of The Plastic Bag Industry Trade Association, says "This would be a big hit to our industry. Many of our affiliates are scrambling to find new revenue sources. Others are working on new marketing campaigns to encourage robotics teams to continue to purchase bags to keep their robots clean and dry despite the removal of the bag requirements."

Industry experts are predicting that markets will stabilize in the near future when these rumors are confirmed. 

- MB

*six weeks in an FRC season is defined as 45 days.


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