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Is Li-Cycle Holdings a Good Battery Recycling Stock to Buy? -Breaking

by Mike Robinson

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© Reuters. Li-Cycle Holdings is a good battery recycling stock.

Lithium battery recycler Li-Cycle Holdings is (LICY) well within its capabilities to expand its business to at minimum 100,000 tonnes of Spoke processing capability and between 220,000-240,000 tons per year for Hub processing capacity, by 2025. However, can this company produce sustainable profits in near-term? Keep reading. Let’s find out.Lithium-ion battery recycling company Li-Cycle Holdings Corp. (LICY), which is headquartered in Mississauga, Canada, completed its stock listing in August 2021, merging with special purpose acquisition company (SPAC) Peridot Acquisition Corp, and generating $527 million in net proceeds. It also recently announced that Koch Strategic Platforms would make a $100 million investment to support LICY’s rapidly expanding growth opportunities in North America, Europe, and Asia.

The stock has gained 15.5% in price over the past month and 52.1% over the past three months to close yesterday’s trading session at $12.95.

However, LICY’s losses widened in its fiscal third quarter. Moreover, the shares trade 16.1% lower than their record high of $15.74 on February 16, 2021. Ongoing labor shortages and supply chain disruptions make the company’s near-term prospects bleak.

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