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PureCycle is one more example of how executives and SPAC sponsors enrich themselves while hoisting unproven technology and ridiculous financial projections onto the public markets, declared Hindenburg Research.
Shareholder lawsuits, tax delinquencies, a prototype that caught fire 10 minutes into its first test drive, and an early exit from the San Felipe 250 desert race don’t bode well for the future of the electric vehicle (EV) SPAC.
In her blog post earlier this week, Clare Goldsberry wondered why she wasn’t getting any answers from the company regarding its advanced recycling claims. “We’re not trying to hide,” explained New Hope Energy to Goldsberry. The company is keeping...