In March 2021, Hedgeye’s Industrials veteran Jay Van Sciver issued a stark warning about his "Best Idea Short" Plug Power (PLUG), highlighting its potential for a significant price collapse.

His assessment during one of the company's earnings calls was pointed and prescient. “None of it makes any sense. What they are promising is stupid,” Van Sciver stated. “They don’t give you any of the technical information you’d really need to evaluate what they’re really doing, and that’s probably because it is exactly what it looks like. . . I love the short side on this name.”

Fast forward to September 2023, and Van Sciver's stance remains unwavering. On a recent episode of the new Industrials Show, he reiterated, “Plug power hasn’t generated a profit in 20 something years of operating. They’ve sold more stock than they have generated in revenue, which is a remarkable metric… it doesn’t make any sense to me,” then added, “There’s a good reason why people don’t do business with hucksters and fraudsters, because they screw you in the end.”

Today, the repercussions of these insights are evident. Plug Power's stock has plummeted over 40%, and since Van Sciver's initial comments in March 2021, it's down an astonishing 90%.

Click here to access Van Sciver’s Industrials research and Industrials Show, CLICK HERE

FLASHBACK | $PLUG Plunges Following Van Sciver's "Best Idea" Short Call - WEBC Banner 11 9 2023

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