PureCycle (NASDAQ: PCT) stock rallied just under 10% with the opening market bells on Wednesday, thanks to the unveiling of their first official product using PureCycled plastic technology. Innovators in sustainability are becoming popular favorites in an investor's portfolio, hence companies like PureCycle attract bulls hoping for the next big eco-break.
The debut product is a plastic shower dispenser, made from their trademark ‘ultra-pure’ transformed plastic. From bins across the US to the homes they came from, the product distributed by EC30 is causing some serious excitement in the space of not just environmental investment, but the consumer structure as a whole. The unique process allowed for the recycled plastic to be used repetitively, epitomizing the future of cutting-edge recycling.
Mike Otworth, CEO of PureCycle explains the directly driven backbone of the company:
“There is no doubt that consumers expect companies to deliver products that are sustainable, but more importantly, eco-driven customers want true sustainability – not corporate greenwashing,”
“What we are creating at PureCycle is more than a plastic that can be infinitely sustainable, we are giving brands an opportunity to be deliberate and genuine when it comes to creating sustainable products that put our environment at the forefront. We want every eco-driven consumer to join PureCycle in our sustainable plastic revolution so we can take on the plastic waste crisis at its core: the materials used to make plastic products. Plastic products can and should be made with material that is infinitely sustainable.”
The plastic problem is at the forefront of society, and with every turning tide throughout points in history, there has been an eager wave of investors pre-empting the next cultural cash cow. If companies like PureCycle weave their technology into the wider consumer repertoire, then the green revolution may be closer than skeptics might believe. PureCycle hasn’t had the best year in the market, showing a current annual loss of over 15.5%. However, with their first product released, the company is on the way to achieving its eco-goals. PCT stock is showing a daily gain of 12.9%, trading just under the $14 level.
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Nigel has been in the regulated financial services industry for nearly a decade, has previously owned a financial brokerage and has written many times for sites relating to personal finance and trading.