In May’s “🌋FuelCell Sucks Wind (Long Distressed Power)🌋,” we closed by saying:
“…we suspect we’ll be seeing this thing in Delaware sometime soon.”
The day of reckoning appears to have been stalled a bit.
FuelCell Energy Inc. ($FCEL) recently filed its Form 10-Q with the SEC. Across the board, the numbers were dogsh*t. This company is pretty darn good at losing money, apparently. Year-over-year revenues are WAY down and operating losses are mounting. The company retained Huron Consulting Group as CRO, paying them upwards of $1025/hour and an (elective) success fee:
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