What's Going On With Li-Cycle Stock Today?
Portfolio Pulse from Adam Eckert
Li-Cycle Holdings Corp (NYSE:LICY) stock fell after announcing engagement with Moelis & Company LLC to evaluate financing and strategic alternatives. The company reported Q3 revenue of $4.7 million, surpassing estimates, and an adjusted loss per share better than expected. Li-Cycle is also taking steps to conserve cash following the pause in the Rochester Hub project.
November 14, 2023 | 4:58 pm
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Li-Cycle's stock price decreased after the company announced it is working with Moelis to explore financial and strategic options, despite reporting better-than-expected Q3 financial results.
The engagement with Moelis suggests that Li-Cycle is considering significant financial or strategic changes, which introduces uncertainty and could be driving the stock price down. Although Q3 results were positive, the market may be more focused on the potential implications of the strategic review and cash conservation efforts.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100