Loop Industries Drops – Hindenburg Makes Claims, Shorts Stock

Shares of Loop Industries  (LOOP) – Get Report lost a third of their market value on Tuesday after the activist investment group Hindenburg published a report lambasting the plastics-recycling company and said it took a short position.

The investment firm said it interviewed former employees, competitors, industry experts and company partners as part of its investigation and concluded that Loop is “smoke and mirrors with no viable technology.”

Loop, Terrebonne, Quebec, didn’t immediately return a request for comment. 

Former employees told Hindenburg that Loop operated two labs, one reserved for its “two twenty-something lead scientist brothers and their father” and one run by rank-and-file scientists who were unable to replicate results. 

The investment firm said that a Loop employee told Hindenburg that scientists were pressured by Chief Executive Daniel Solomita to “lie about the results of the company’s process internally. We have obtained internal documents and photographs to

Read More

Loop Industries plummets 39% after a short-seller report claims its plastic-recycling technology doesn’t work



a man looking at the camera: Getty Images / Xinhua News Agency


© Getty Images / Xinhua News Agency
Getty Images / Xinhua News Agency

  • The same short-seller that targeted Nikola in September has set his sights on a new name: Loop Industries.
  • In a report released on Tuesday, Hindenburg Research alleged that Loop Industries’ technology for recycling plastics didn’t work, describing it as “smoke and mirrors.”
  • Shares of Loop Industries fell as much as 39% on Tuesday.
  • Visit Business Insider’s homepage for more stories.

The same short-seller that targeted Nikola in September is now alleging that another company “is smoke and mirrors” and is inflating its technological capabilities.

Loading...

Load Error

In a report released on Tuesday, Hindenburg Research alleged that Loop Industries was peddling plastic-recycling technology that didn’t work.

Investors have taken note of what Hindenburg has to say since its September report on Nikola led to a drawdown of nearly 50% in that stock.

Loop Industries says it uses proprietary

Read More

Loop Industries plummets 36% after a short-seller report claims its plastic-recycling technology doesn’t work

  • The same short-seller that successfully targeted Nikola Corp. in September has set his sights on a new name: Loop Industries.
  • In a report released on Tuesday, Hindenburg Research alleged that Loop Industries’ technology for recycling plastics doesn’t work. 
  • “Our research indicates that Loop is smoke and mirrors with no viable technology,” Hindenburg said. 
  • Shares of Loop Industries fell as much as 36% in Tuesday trades.
  • Visit Business Insider’s homepage for more stories.

The same short-seller that successfully targeted Nikola Corp. in September is now alleging that another company “is smoke and mirrors” and is inflating its technological capabilities.

In a report released on Tuesday, Hindenburg Research alleged that Canada-based Loop Industries is peddling a plastic-recycling technology that simply doesn’t work.

Investors are taking note of what Hindenburg has to say after its September short report on Nikola Corp. led to a drawdown of nearly

Read More

Machine Safeguarding Solutions Market with COVID-19 Recovery Analysis 2020-2024|Growth of End-user Industries to Boost Market Growth

The global machine safeguarding solutions market size is poised to grow by USD 774.41 million during 2020-2024, progressing at a CAGR of almost 4% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201007005678/en/

Technavio has announced its latest market research report titled Global Machine Safeguarding Solutions Market 2020-2024 (Graphic: Business Wire)

The machine safeguarding solutions market is driven by the growth of end-users. Several machining operations that are carried out in the automotive and industrial machine manufacturing industry involve bending, boring, grinding, and milling. Manufacturers use transmission systems such

Read More

Booming Industries In 2020: Cybersecurity

Advisor and Investor @ ConnectBud and CBNITS.

I have been in the cybersecurity space since 2008 when I joined McAfee (through the acquisition of Reconnex) and have been enjoying this space since then. (Fun fact: I joined Reconnex the same day it was acquired by McAfee.)

This year the cybersecurity space is quite healthy considering the global uncertainty in the world. I took a look at the space, digging into data across the industry and came across a few trends:

1. Stocks have been on the upward trend.

2. Hiring trends look promising.

3. Acquisitions are still thriving.

4. Security startups are slowly being founded in 2020. 

Having said that, some cybersecurity companies are showing flat growth and many cybersecurity startups that are facing a hard time to raise funds and are struggling to survive this year.

1. Stocks have been on the upward trend.

The stock price

Read More

The Current Top Industries For Tech Startups

Let’s be honest, at the start of the COVID-19 pandemic there were some major doom and gloom outlooks for tech startups. At the start of April 2020, the New York Times was calling it ‘the great unwinding’. Yet, as things settle, we are realizing just how far off this prediction was. Several tech industries are now thriving, and here are our top five recommended industries for tech startups right now:



a person holding a sign


© Shutterstock


1. Artificial Intelligence

Loading...

Load Error

AI is the tech sector to be in right now. Not only is it an industry in its own right, but it is a technology that transcends all others too. Every other tech industry we mention going forward will likely rely in some way on AI.

According to the Fortune Business Insights, the global AI market was valued at US$27 billion in 2019. The COVID-19 pandemic has done little to alter the

Read More

EnPro Industries to Acquire Alluxa, Inc.

  • Strengthens and expands EnPro’s materials science exposure in specialty optical filters and thin-film coatings technology, bolstering EnPro’s existing thin-film product offering with a focus on serving the most challenging applications in high-growth markets, primarily industrial technology, life sciences, and semiconductor

  • Adds proprietary technology platform, processes, and capabilities with a highly differentiated product suite and service offering, including proprietary advanced SIRRUS™ automated plasma deposition software

  • Aligns with EnPro’s growth strategy and acquisition criteria with attractive growth opportunities, comprehensive technical capabilities, compelling financial performance, and a proven and experienced management team

EnPro Industries, Inc. (NYSE: NPO), a leading technology company which uses materials science to push the boundaries of the semiconductor, life sciences, and other technology industries, today announced that it has entered into an agreement to acquire Alluxa, Inc., a privately held, California-based company. Alluxa is an industrial technology company that provides specialized optical filters and thin-film coatings for the most

Read More

China unveils ‘strategic emerging industries’ plan in fresh push to get away from US technologies



Beijing says it will boost investment in high-end manufacturing, including industrial robotics (above), under its new “strategic emerging industries” plan. Photo: Xinhua


Beijing says it will boost investment in high-end manufacturing, including industrial robotics (above), under its new “strategic emerging industries” plan. Photo: Xinhua

Beijing has released an ambitious plan to boost the development of “strategic emerging industries”, from the buildout of 5G mobile networks to industrial robotics, in the latest move to counter Washington’s expanding technological embargo while elevating the national economy.

In a joint circular released on Wednesday by the National Development and Reform Commission (NDRC); the Ministry of Science and Technology; the Ministry of Industry and Information Technology; and the Ministry of Finance, the country vows to build a complete strategic industrial system via state planning and state investments.

China’s aim is to build up “10 strategic emerging industrial bases with global influence, 100 strategic emerging industrial clusters with international competitiveness, and 1,000 strategic emerging industrial ecosystems with unique advantages” through the plan.

Get the latest insights and analysis

Read More