Hedgeye CEO Keith McCullough is adding Plug Power to the short side of Investing Ideas. Below is a brief note.
Talking about Industrials analyst Jay Van Sciver being hilarious, you have to listen to him talk through the SELL call on Plug Power (PLUG) on The Call @Hedgeye!
This is a relatively new idea from JVS and here's a good summary paragraph introducing it:
|
Plug Power (PLUG): Added to Best Ideas Short We’re adding PLUG as a Best Ideas Short as it seems to be in the business of issuing shares of stock, even giving warrants to facilitate product sales at valuations that ended up being absurdly low. The behavior around the most recent equity offering looks dubious. Forklift fuel cells are a difficult business, likely entering a post COVID downswing. Reputational damage could become a broader issue, and we see ~80% relative downside. |
Sell the slow-volume bounce to lower-highs,
KM
