The Globe and Mail reports in its Wednesday, Nov. 30, edition that it has been a while since Jerome
Hass, portfolio manager at Lightwater
Partners, has had as much
conviction in a short position as
he has with Electrovaya ($2.20). The Globe's Larry MacDonald writes that Mr. Hass's main concern is that the market
is overestimating the promise of
the company's new technology:
lithium-ion batteries for use in
electric cars and wind/solar power
Mr. Hass also points to a recent
development. "As a result of a
disclosure review by the Ontario
Securities Commission, the company
issued a news release on
Nov. 8 that 'clarified' many of its
2016 news releases and will
require the company to restate
some of its financial disclosures
dating back to December, 2015,"
he notes. "We think there are
plenty of other interesting stocks
in Canada for investors to consider
that are not subject to an
OSC review," says Mr. Hass.
Electrovaya shares have a 52-week range of 63 cents to $4.34.
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