12 documents showing 1–12

Ceres Power Holdings plc CWR

Ceres Power's decade of hyped SOFC partnerships (Bosch, Nissan, Honda, Doosan) has produced only negligible royalties; the market-cap surge from partnership announcements will fade as revenue reality emerges.

Uranium Energy Corp UEC

Spruce Point calls UEC a promotional penny-stock-turned-$5bn uranium speculator: CEO Adnani's ties to charged fraudsters plus zero proven reserves imply 65-85% downside.

Sunrun RUN

Sunrun's Subscriber metric is fabricated — inflated ~20% above EIA filings — letting it overclaim ~$205M in IRS tax credits and prop up a fictitious valuation; Muddy Waters remains short.

Sunrun Inc. RUN

Sunrun's non-GAAP Subscriber count exceeds mandatory EIA filings by ~20%, implying phantom customers, ~$1.5B of overstated Net Earning Assets (62.5% of market cap), and possible ITC tax fraud.

Sunrun RUN

Muddy Waters rebuts Sunrun's response: the 90% PPA-renewal assumption on 20-year-old panels is fantasy, the $668M panel-removal liability is real, and RUN hides its tax basis.

Sunrun Inc. RUN

Sunrun's equity story rests on three shaky pillars — inflated subscriber values, abusive IRS tax-basis gaming, and fragile ABS — that together imply an 85% haircut to Net Earning Assets.

Alpha Metallurgical Resources, Inc. AMR

AMR masks production, revenues and liabilities while management quietly dumps stock at cyclical coal highs; Spruce Point sees 40-60% downside to $60-90 per share.

ESS Tech, Inc. GWH

Sunnova Energy International Inc. NOVA

Sunnova is a misbranded 'solar' company that is actually an unprofitable specialty finance business with Enron-alum management and aggressive non-GAAP metrics — fair value $5-$8 vs. $27 today (70-80% downside).

JinkoSolar Holding Co., Ltd. JKS

Noble Group NOBL

Muddy Waters is short Noble Group: a cash-burning commodities trader that manufactures EBITDA via sham affiliate transactions like the PT ALH $46M negative-goodwill scheme to keep credit flowing.

SandRidge Energy SD

CEO Tom Ward's family entities systematically flipped Mississippian Lime mineral rights to SandRidge and competed for adjacent acreage—evidence of self-dealing that warrants a board investigation and potential termination.