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Why Li-Cycle Stock Just Popped 11.5%

TheMotleyFool

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Shares of start-up lithium-ion battery recycler Li-Cycle (NYSE: LICY) stock had jumped 11.5% as of 10:30 a.m. EDT Wednesday after it was announced that the $1.9 billion battery stock will receive a $100 million investment from Koch Investments Group.

Specifically, Li-Cycle announced this morning that Koch Investments subsidiary Koch Strategic Platforms will buy a $100 million convertible note from Li-Cycle "to support the Company's rapidly expanding growth opportunities in North America, Europe and Asia."

Image source: Getty Images.

Source Fool.com

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