Eos Energy Enterprises, Inc
|Company Name||Eos Energy Enterprises, Inc|
On January 14, 2021, Iceberg Research published a report entitled "Eos Energy ($EOSE): Fake Customers Won't Recharge a Dead Battery," alleging among other things that Eos Energy has "failed technology and dubious customers." Citing findings that “the disclosed customers are extremely unlikely to have the financial ability to honour their contracts,” the report "estimate[s] that EOS' equity is worth only $144M . . . which represents a 90% downside from its current market cap of $1.5B."
On this news, Eos Energy stock price fell $3.85, or 13.55%, to close at $24.56 per share on January 14, 2021, thereby injuring investors.
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