Why Eos Energy's Stock Is Getting Hammered Thursday
Portfolio Pulse from Aaron Bry
Shares of Eos Energy Enterprises Inc (NASDAQ:EOSE) fell more than 50% following a short report from Iceberg Research. The report alleges that a majority of Eos's backlog is from financially distressed Bridgelink, whose assets were foreclosed in May. Iceberg claims that Eos failed to inform investors about this, stating that 62% of Eos's backlog is attributable to Bridgelink.
July 27, 2023 | 7:31 pm
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Eos Energy's stock fell significantly due to allegations from Iceberg Research about the company's backlog. This could negatively impact investor confidence and the company's stock price in the short term.
The allegations from Iceberg Research about Eos Energy's backlog being largely from a financially distressed company, Bridgelink, have caused a significant drop in Eos's stock price. This suggests a lack of transparency from Eos, which could negatively impact investor confidence and further depress the stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100