PureCycle: The Latest Zero-Revenue ESG SPAC Charade
Hindenburg Research have taken a short position in shares of Purecycle Technologies Inc (NASDAQ:PCT). Q1 2021 hedge fund letters, conferences and more PureCycle is the latest zero-revenue, ESG-themed SPAC taken public with a bold story about how it will someday revolutionize the plastics recycling industry.The company’s insiders and SPAC sponsors do not seem inclined to wait to see how its claims will work out: they’ve collectively positioned themselves to clear ~$90 million in cash and tradable shares before the company generates a single dime in revenue.PureCycle’s Chairman/CEO and other ass...