PLUG: Is tomorrow the last chance out the door?
Hello degenerates, it’s the internet’s least professional PLUG bear, with a short one this time (get it?). If you haven’t, check out my previous posts, in which I discuss PLUG’s past, PLUG’s financials, and PLUG’s accounting restatement.
FCEL was down 10% today on declining revenue, and pulled PLUG down with it to some extent. But before you get too excited about buying the dip, you should keep in mind that PLUG has until Monday to file its quarterly financial statements with the SEC or risk being delisted from the NASDAQ. This is the second consecutive quarter that PLUG has been extremely tardy to file; that is a pretty major red flag.
I don’t know when PLUG will report earnings, or what the numbers will be like (they will almost certainly have a net loss and negative operating cash flow). They probably won’t get delisted even if they miss Monday’s deadline; NASDAQ’s made good money from trading in this stock over the last year. But management has raised gobs of cash selling this stock for the company, and insiders have lined their own pockets selling 13 million shares, many at prices much lower than today’s. Do you know enough about this company to want to be on the other side of that trade? If not, consider getting out before the music stops.
Positions: Puts so I’m unsqueezable.
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June 10, 2021 at 07:19PM