MT Newswires — Hyzon Motors (HYZN) shares were down 6% in Wednesday’s midday trading after short-seller Iceberg Research said it agreed with a September report by another short-seller, Blue Orca Capital, that accused the developer of vehicles powered with hydrogen fuel cells of misleading investors and accounting fraud.
Iceberg also said Hyzon’s claims of having superior fuel cell technology are exaggerated, and that customers will be reluctant to buy trucks with warranties covered by Hyzon instead of the original equipment manufacturers.
On Tuesday, Hyzon responded to the Blue Orca report, saying “it was intended solely to generate profits on Blue Orca’s short position at the expense of Hyzon’s long-term shareholders.” The company said it stands by its public disclosures.
Price: 6.01, Change: -0.38, Percent Change: -5.99
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