Kerrisdale Capital Shorts Plug Power (PLUG); PT Of $2-$2.50

Below is the latest from Kerrisdale Capital, which has disclosed a short in Plug Power Inc (NASDAQ:PLUG)

We are short shares of PLUG. Please click here to read full disclosures. - See more at: http://kerrisdalecap.com/commentary/#sthash.sInRGdUB.dpuf

Introduction

It’s been a sensational year for investors in Plug Power (PLUG), with shares rising from pennies to more than $10. But now, it appears the party has ended, as investors are starting to cut through the promotional hype that has enveloped the company to rediscover the business’s less than promising fundamental outlook. We expect shares to continue declining sharply in coming weeks. In particular, it’s hard to imagine a company that no one wanted to buy at 15 cents a share last year is now worth $7.50. Plug...