Loop Industries today commented on the report published by Hindenburg Research this morning.
According to Loop Industries, Hindenburg holds a short position in Loop Industries stock. Hindenburg Research has not engaged with Loop directly nor does Loop Industries believe Hindenburg Research has done the required due diligence for this report. Loop Industries states that the claims Hindenburg Research makes are either unfounded, incorrect, or based on the first iteration of Loop’s technology, known as Gen 1, which was in use between 2014 and 2017. In 2017, Loop reinvented its process and developed its Gen 2 technology, which is at the core of Loop’s commercialization projects.
Loop’s press release can be read here: https://www.irdirect.net/prviewer/release/id/4491649.
According to Hindenburg Research, “Former Employees and Plastics Experts Blow The Whistle On This “Recycled” Smoke And Mirrors Show”
Information about the Hindenburg Research report can be read here: https://hindenburgresearch.com/loop/.