Purecycle Technologies Inc (PCT)

Shares of PureCycle Technologies Inc (PCT) dropped by 14.19% from $4.65 to $3.99 in the trading on Tuesday, December 5, 2023. The reason why SHPR is down today is due to several concerning developments within the company.

• Production Issues and Layoffs: Firstly, production issues were reported, causing apprehension among investors. Additionally, the company made the decision to lay off 22 employees, further contributing to market uncertainty.
• CFO Resignation and Interim CFO Appointment: Another significant event was the resignation of the Chief Financial Officer (CFO). In response to this, the company announced the appointment of an interim CFO. These collective factors have led to a downturn in PCT's stock price on that particular trading day.

In pre-market trading, PureCycle Technologies, Inc. (PCT) saw an 11.5% decline, dropping to $8.74, following the announcement that the company has increased its private offering to $215.0 million for 7.25% Green Convertible Senior Notes due 2030, set to settle on August 24, 2023, with an option for the initial purchaser to acquire up to an additional $35.0 million.

https://finance.yahoo.com/news/purecycle-announces-upsize-pricing-215-113000751.html