Li Cycle Holdings Corp (LICY)

Li Cycle Holdings Corp Stock (LICY) dropped by 55.12% from $1.47 to $0.6597 in the trading on Tuesday November 14, 2023. The reason why LICY stock down today is due to pause on Eastman Business Park. The CEO of Li-Cycle says that the pause is due to two factors: higher construction costs and trouble securing financing. Initial estimates put the investment at $485 million. That had grown to $560 million by mid-year. During a Monday earnings call, officials put the new construction budget at $850 million – or as high as $1 billion when including process and warehouse buildings.

Li Cycle Holdings Corp Stock (LICY) dropped by 5.77% from $1.56 to $1.47 in the trading on Monday November 13, 2023. The reason why LICY stock down today is due to the third-quarter earnings report.

• Adjusted quarterly loss of 19 cents per share, beating the analyst consensus estimate of 24 cents loss, an 18.75% decrease over a loss of 16 cents per share from the same period last year.
• Revenue of $4.70 million, beating the analyst consensus estimate of $2.99 million.
• Cash and cash equivalents of $137.4 million
• Adjusted EBITDA loss of $38.9 million, compared to a loss of $35.1 million in the same period last year.

Shares of Li Cycle Holdings Corp (LICY) dropped by 45.81% from $2.27 to $1.23 in the trading on Monday, October 23, 2023. The reasons why LICY stock down include:

• Construction Pause: Li-Cycle Holdings Corp announced a temporary halt in construction on its Rochester Hub project. The decision was made due to construction costs exceeding initial estimates. The company's Board of Directors is conducting a comprehensive review of the project's scope, budget, and construction strategy.
• *Downgrade Rating**: TD Cowen analyst Jeffery Osborne downgraded LICY from an Outperform rating to a Market Perform rating. This unexpected rating change surprised investors, as Li-Cycle Holdings had consistently received positive ratings and price targets ranging from $2 to $9, as reported by analysts surveyed by Capital IQ.