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.