This Small Cap Continues To Amaze Us

By: Tomas Ronolski - AllPennyStocks.com News

Tuesday, March 19, 2024

An industrial company that we’ve written about twice already this month is continuing its dominance and has come across our desk yet again.

For the third time this month, shares of Li-Cycle Holdings Corp. (NYSE:LICY) are on the move, adding to the massive amount of success this stock has had over the last few weeks. Today’s move comes off of the announcement that the company is planning to ‘significantly reduce’ its workforce and cut spending. Shares of this small cap reached up to $1.92/share (+74.55%) at the session high.

Li-Cycle Holdings Corp is a lithium-ion battery resource recovery and the leading lithium-ion battery recycler. Its proprietary Spoke and Hub recycling process is designed at its Spokes, to process battery manufacturing scrap and end-of-life batteries to produce black mass and other intermediate products, and at its Hubs, to process black mass to recover raw materials, including but not limited to lithium carbonate, cobalt sulphate and nickel sulphate.

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