Highflier Unplugged

Can it all be over that quickly? A report from Citron Research was all it took to reverse Plug Power (PLUG) almost 40% lower from its opening price this morning. What's funny is it came down to Citron, then a CNBC appearance. It wasn't a big firm. Not many folks in the media questioned this run, but Citron was the tipping point. If you are serious about getting a small-cap name that you hold short beaten to a quick pulp, Citron appears to be the place to go.

I will admit that the report is pretty well done. It presents interesting arguments, mostly geared toward empty promises and projections from management, although it passes off the Wal-Mart (WMT) deal as nothing more than a tax move. It was interesting to see the report didn't exactly bash Ballard Power Systems (BLDP), referring to it as the only real company of the two, yet BLDP has somewhat taken a backseat to PLUG over the past few weeks. Still, BLDP is certainly going to suffer along with PLUG. Just as quickly as the momentum folks jumped into these names, they are leaving them. That being said, I wouldn't expect it to be one straight line lower. There was a secondary at $5.74, so we may see support come in above that. Additionally, there is a huge short interest in these names, so some may look to cover on this big drop today....140 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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