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American Superconductor joins energy tech rally

  • An rally that has already yielded huge gains for fuel cell and other alternative energy stocks is now propelling smart grid/wind turbine maker American Superconductor (AMSC +12.8%) higher.
  • Last month, AMSC rallied on an FQ3 beat and a favorable legal ruling in its long-running battle against ex-customer Sinovel. 9% of the float was shorted as of Feb. 14.
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Comments (2)
  • Esekla
    , contributor
    Comments (3111) | Send Message
    I think the rally has more to do with a temporary short squeeze, based on the March 2 news, that they are staving off bankruptcy by further diluting existing shareholders and handing out 6.6 million shares in exchange for forgiveness on some of their bonds. The news from China was positive, but not material to their financial situation.
    11 Mar, 01:08 PM Reply Like
  • Yuriko777
    , contributor
    Comments (11) | Send Message
    The fact that those bond holders are willing to accept shares is still a positive sign.
    11 Mar, 01:48 PM Reply Like
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