Li-Cycle Holdings Corp (LICY)

Overview News Price History Option Chain Why LICY Down? Discussions Forecast

Why is Li-Cycle Holdings Corp (LICY) Stock down?

We've noticed a 12.83% decline in Li-Cycle Holdings Corp (LICY) stock during the 2024-05-10 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!

14 Nov, 2023:

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.

13 Nov, 2023:

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.

23 Oct, 2023:

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.