Investors are taking note of what Hindenburg has to say after its September short report on Nikola Corp. led to a drawdown of nearly 50% in that stock.
"In other words, the company claims to have discovered how to turn worthless trash into pure gold, a feat that multi-billion chemical companies such as DuPont, Dow Chemical, and 3M have been unable to achieve on a large scale despite years of efforts," Hindenburg said.
The firm doesn't expect Loop Industries to generate any meaningful revenue and sees 100% downside potential in the stock.
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