This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Investors Should Beware of Citron Research, Plug Power

Stocks in this article: PLUG GACR SCEI

In May of 2011 at Seeking Alpha, I wrote a pair of articles raising questions about a company called Green Automotive (GACR).

If I may say so myself, it's some of my best work. Much like Weinstein's efforts with respect to PLUG, I called out individuals with iffy, at best, track records. I also questioned the company's claims about its business and the unscrupulous ways it went about trying to sell its stock to unsuspecting investors.

Of course, the company responded with threats:

(Former GACR CEO) Mr. (Fred) Luke went on to say that recent criticism by a financial writer who represents to be closely following this newly developing Electric Vehicle industry, appears to me to be doing the subject matter and his readers a great disservice by not conducting any real due diligence, and therefore lacks the facts to substantiate his negative editorial comments ...
... For that matter this reporter could be collaborating with some of the short-sellers. Why else publish something which is full of negative mis-statements and a painfully incomplete analysis of all of the publicly-accessible news and other publicly-accessible facts, unless you really didn't care about doing a good job maintaining balance. I'll let the regulators the Company's attorneys pursue this as we have other, more important things to deal with related to the timely launch of the company's All-Electric SUV late this year?.

Here's a look at the GACR chart, from May 2011 to intraday trading Wednesday afternoon:

GACR ChartGACR data by YCharts

At the time, I lost money on another penny stock. One I was sure was going to do well. Emotion took over, clouded my better sense and cost me. Luckily, I was diversified in electric vehicle-related stocks at the time, so things turned out alright.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,364.64 -314.06 -1.78%
S&P 500 2,032.74 -24.35 -1.18%
NASDAQ 4,696.2230 -75.54 -1.58%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs