Markets are moving higher today, but shares of plastic recycling stock PureCycle Technologies (NASDAQ: PCT) are downright flying higher. In addition to the fourth-quarter 2022 financial results that the company reported yesterday after the market closed, investors are picking up shares of PureCycle today in response to today's news that the company has formed a new partnership.

As of 2:44 p.m. ET, shares of PureCycle Technologies are up 38.6%.

In the pre-revenue phase of its development, there's nothing at the top -- or bottom -- of the income statement that's spurring investors on today. Instead, it's news that PureCycle Technologies is making progress with its flagship facility, Ironton.

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Source Fool.com