Hunterbrook sees ‘major roadblocks’ to Plug Power getting DOE loan approved

Hunterbrook Media reports that the organization’s investigation finds “potential major roadblocks” to Plug Power (PLUG) getting a loan from the DOE approved, adding that Plug “needs the DOE loan as a financial lifeline.” Plug may not be able to secure enough water for planned hydrogen plants and may not have a credible plan for paying the loan back, argues Hunterbrook Media, which notes that based on its reporting, Hunterbrook Capital is short Plug Power at the time of publication of the report. “Part II of this investigation, an accounting analysis that will be published later today, reveals Plug is running out of cash. The company could go bankrupt within a year if the DOE loan doesn’t come through, and may not last much longer even if it does,” according to Hunterbrook. Following the publication of the report, shares of Plug Power are down about 2% to $1.99 in morning trading.