PureCycle Technologies, Inc. (NASDAQ: PCT ) was among the stocks Jim Cramer looked at as he explained the need for a tame bond market for the stock market to go higher . Starting the lightning round, when a caller inquired about the stock, Cramer commented:
Okay, problem with Purecycle is it loses a fortune, and it has almost no revenue. I think we have to say no to that one.
Photo by Adam Nowakowski on Unsplash
PureCycle Technologies, Inc. (NASDAQ:PCT) produces recycled polypropylene by using a licensed process that filters out color, odor, and additives from plastic waste. The resulting ultra-pure resin is used to manufacture consumer packaging, textiles, and several industrial parts. The company released its Q1 earnings result on May 6, posting a GAAP EPS of -$0.21, outperforming estimates by $0.04. Its revenue of $4.13 million was up over 161% year-over-year and beat estimates by $0.3 million.
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