Jim Cramer on PureCycle: “I Think We Have to Say No to That One”

PureCycle Technologies, Inc. (NASDAQ:PCT) was among the stocks Jim Cramer looked at as he explained the need for a tame bond market for the stock market to go higher. Starting the lightning round, when a caller inquired about the stock, Cramer commented:

Okay, problem with Purecycle is it loses a fortune, and it has almost no revenue. I think we have to say no to that one.

PureCycle Technologies, Inc. (NASDAQ:PCT) produces recycled polypropylene by using a licensed process that filters out color, odor, and additives from plastic waste. The resulting ultra-pure resin is used to manufacture consumer packaging, textiles, and several industrial parts. The company released its Q1 earnings result on May 6, posting a GAAP EPS of -$0.21, outperforming estimates by $0.04. Its revenue of $4.13 million was up over 161% year-over-year and beat estimates by $0.3 million.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years 

Disclosure: None. Follow Insider Monkey on Google News.