PurplePenguin
Oct 2, 1:34 PM
$ADUR I did get some insight into the bull thesis yesterday. One person said, "anyone can see it is profitable when you are paid to take waste and can sell circular naphtha from it."
What that bull doesn't understand is that nobody will pay anyone to take sorted plastic or highly homogeneous plastic or even give them for free. Those types sell for hundreds of dollars per ton. Here's one page connecting buyers and sellers: https://www.recycle.net/Plastic/pp/xv100500.html
If Aduro could make a profit from processing plastic, they would already be doing so with market plastic as feedstock. Instead Aduro has concocted a story that they expect to get paid to take plastic and turn it into salable naphtha and tricked investors into believing they had a reasonable basis for believing that.
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