Business
from24/7 Wall St.
1 week agoPlug Power's Dramatic 9-Day Rally Looks Like a Classic Short Squeeze
Plug Power's recent stock surge is driven by speculative short-squeeze dynamics and market hype rather than fresh company fundamentals.
There's plenty of uncertainty to go around this year, including a global trade war, shifting policy priorities, and an economy that's starting to stumble. Breakthrough Energy, a climate tech organization founded by Bill Gates, has also been shifting in response. The group always placed long bets, though it appears to be reappraising some of them. Its policy team was scrapped in March, for example, and it didn't continue funding a publication that covered the climate tech world. Still, its investments in startups continue, as does its longest bet, a fellowship program for budding entrepreneurs.