Plug Power Shares Blew A Fuse

This is getting ridiculous.

After surging as much as 17% yesterday, fuel cell machine distributor Plug Power shares closed down 16% to $US6.71.

The catalyst appears to have been two downgrades, one from Cowen, which recently executed a registered offering for the firm; and one from Roth.

According to Seeking Alpha, Roth sees unspecificed near-term risks, and that 2014 bookings momentum is slowing. Cowen, meanwhile, says the shares are fully valued.

Ballard, which supplies the cells for Plug’s machines, was down as much as 8%, while fellow fuel cell traveller FuelCell Energy was off as much as 11%.

Here’s the (totally wacky) chart for the week. According to Bloomberg, 20% of Plug’s float is short interest.

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