Plug Power Is Tanking (PLUG, BPLD, FCEL)
This is getting ridiculous.
After surging as much as 17% yesterday, fuel cell machine distributor Plug Power shares are back down as much as 16% to $6.50
The catalyst appears to have been two downgrades, one from Cowen, which recently executed a registered offering for the firm; and one from Roth.
Ballard, which supplies the cells for Plug's machines, was down as much as 8%, while fellow fuel cell traveler 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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