His actions speak for themselves. He got burnt hard and is bitter. Tried to save face on CNBC. What a moron. No credibility. I am following the other analysts who came yesterday and today and adding below $23.
All the majors developing their own electric cars. They will be better and cheaper. They have huge resources at their disposal that Tesla won't be able to compete with.
Sell or sell short.
Unplug Plug Power
By Jim Cramer | Mar 10, 2014 | 4:00 PM EDT
"Enough with Plug Power (PLUG) already. This little money-losing company has become the flavor du jour -- along with fellow travelers Ballard Power Systems (BLDP) and FuelCell Energy (FCEL) -- because of a couple of contracts, most notably Wal-Mart (WMT) using FCEL's hydrogen battery technology on some forklifts. Now, I know this stuff is exciting, enough even to take this stock up about 5,000% in the last year, but I have never, ever seen this kind of movement end happily."
Douglas Kass @DougKass
A December 13 letter from the SEC to Tesla has just been released which raises questions regarding statements made in 2012 10K, 3Q2013 10Q
Here are some reasons why you should question Citron Research and not simply give a knee-jerk reaction
In no particular order and without a great deal of commentary. For a full article please see my piece that will publish on Wednesday at TheStreet.
•Andrew Left, Citron's founder and editor was sanctioned by the National Futures Association for "...FALSE AND MISLEADING STATEMENTS TO CHEAT, DEFRAUD OR DECEIVE A CUSTOMER IN VIOLATION OF NFA COMPLIANCE RULES ..." He was barred from acting as a principal on any NFA member for three years and was required to tape record and log all conversations with current and potential customers. Click here for details
•Citron often gets it "wrong" and doesn't disclose actual performance metrics. Citron makes a point to disclose winners and when they make a good call, but not the losers including: •Tesla (TSLA)
•3D Systems (DDD)
•Links to articles about Citron's performance •How Good is Citron Research?
•When Life Hands You Citrons, Make Citronade: In Which I Differ With Smart Analysts
•The tax credits that are "about to expire" and Citron depends on to make its bear thesis don't expire until the begining of 2017. A lot can happen between now then including cost savings, greater demand pushing prices higher, extensions of credits, or maybe a combination of all. Your guess what Congress will do is as good as Citron's.
•Wal-Mart (WMT) order isn't simply an ongoing contract. Wal-Mart was TESTING the forklifts and they PASSED. Wal-Mart decided to expand with Plug Power's products. Others Including FedEx (FDX) Sysco (SYY), Kroger (KR), Coca-Cola (KO) use Plug Power's products. The Wal-Mart big sale is important because it demonstrates confidence in Plug Power and builds creditability. Who do you trust more about Plug Power, Wal-Mart or Citron Research?
•Citron claims management lacks honesty or conviction, but fails to mention that Plug Power's CEO Andrew Marsh actually DID buy shares during the same time period of the last
Go to Real Money site and look at all the tweets from this morning if you don't believe me. You can be sure Cramer will be joining the fray soon as he usually does.
Click on the link in the Headlines section. I'm in.
Unusual options activity.
Blowing the owner to get the gig as we speak. He just cancelled the bottle of Dom.
Ya, that's really worth 16%. LOL
Shorting hard here.