I caught this one on the recent IPO list and am intrigued with their business model in that it is similar to the business model of the company that I work for in a totally different industry.
The comparison they gave in their prospectus where if I recall correctly it costs $50 a tonne to dump the tyres compared to $33 a tonne looks attractive at face value but I would need to do a process costing study on both methods to understand where the sensitivities lie. Personally I don't like it at this price just yet but it is def on my watchlist.
PLX Price at posting:
$1.20 Sentiment: None Disclosure: Not Held
