Axalta Launches New Glass and Ceramic Coatings—Eleglas



Axalta’s new launch

On August 6, Axalta (AXTA) announced the launch of Eleglas, decorative coatings that can be used to protect and enhance glass and ceramic surfaces. These coatings are water-based polymers with anti-shatter technology that keeps the glass and ceramic pieces intact if it breaks. This development marks Axalta’s expansion into the glass coatings market.

Axalta’s (AXTA) Eleglas coatings come in a variety of colors, finishes, and specifications. These coatings can be used in industries such as cosmetics, beverage containers, glassware, fragrance, and lighting. This launch could drive Axalta’s future earnings growth. 

On August 6, Eric Kwasnicka, Axalta’s product manager for industrial coatings, noted, “This revolutionary portfolio of products, including our anti-shatter technology, has the potential to set businesses in diverse industries apart from their competitors.”

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Axalta’s stock price update

Axalta (AXTA) stock closed at $30.03 and declined ~1.1% for the week ended August 10. The decline in its stock price caused Axalta to trade 2.9% below its 100-day moving average price of $30.94, indicating weakness in the stock. On a year-to-date basis, AXTA stock has fallen 6.3%. 

Among AXTA’s peers, Sherwin-Williams (SHW) and RPM International (RPM) have gained 7.1% and 21.25%, respectively, year-to-date. PPG Industries (PPG) has declined 9.1%. AXT also underperformed the iShares US Basic Materials ETF (IYM), which fell ~0.8% for the week. IYM invested 1.1% of its portfolio in Axalta stock on August 10.

Axalta’s 14-day RSI (relative strength index) of 43 indicates that the stock isn’t overbought or oversold. An RSI of 30 and below suggests that the stock temporarily moved into the “oversold” position. However, an RSI of 70 and above indicates that the stock temporarily moved into the “overbought” position.


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