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.

While we acknowledge the risk and potential of PCT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than PCT and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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.

1281292 - 11759070 - 1