PureCycle Technologies Inc.'s stock plummeted 24.94% during intraday trading on Friday. The sharp decline followed the company's release of disappointing fourth-quarter financial results and an announcement regarding a change in its financial leadership.

The recycling-technology company reported revenue of $2.7 million for the latest quarter, which fell significantly short of the $6.4 million analysts surveyed by FactSet had expected. Concurrently, the company announced that Chief Financial Officer Jaime Vasquez would retire and be succeeded by Donald Carpenter, effective March 1.

The dual news of a substantial revenue shortfall and a key executive transition prompted a sell-off, driving the stock price down sharply in the afternoon session. The market's reaction reflects investor concerns over the company's recent financial performance and the management change during a critical period.