Hindenburg has a track-record of finding corporate wrongdoings and placing bets against the companies. Founded in 2017 by Nathan Anderson, Hindenburg Research is a forensic financial research firm which analyses equity, credit and derivatives. It was named after the high profile disaster of the Hindenburg airship in 1937 which ignited as it flew into New Jersey.
Investors are especially charged up about fuel cell specialist Plug Power (NASDAQ: PLUG) though. As of 11:14 a.m. ET, shares of Plug Power are up 7.8%. Investors are particularly interested in the announcement since Plug Power and Nikola inked a hydrogen supply agreement in December.
Shares of electric truck maker Nikola (NASDAQ: NKLA) spiked higher Monday morning after the company announced another step forward for its hydrogen fuel-cell electric vehicle (FCEV). The stock had jumped 8% as of 10:30 a.m. ET. Nikola started selling its battery-electric heavy trucks last year, and expects to begin production of its hydrogen FCEV this year.