Blue Orca shorts Hyzon
$Hyzon Motors(HYZN.US$
Blue Orca is Short Hyzon Motors Inc. (NASDAQ: HYZN)
We are short Hyzon Motors Inc. (“Hyzon” or the “Company”) (NASDAQ: HYZN), a zero-revenue hydrogen EV SPAC which we liken to a Chinese Lordstown Motors. In our opinion, Hyzon’s supposed major customers are a fake-looking Chinese shell company incorporated three days before the deal announcement and a tiny New Zealand startup which told us they are not really a customer.
Hyzon is just a repackaging of a flailing Chinese parent company which has been trying to sell the same hydrogen fuel cells without much success for 17 years. The parent entity was delisted from the Chinese OTC exchange in early 2021 at an enterprise value of sub $200 million. Hyzon is just a worse version of this same business in SPAC form, yet trades at 10x the valuation. We think Chinese investors obviously knew best.
Notably for a zero revenue SPAC banking on the future value of its technology to save its business, two of Hyzon’s chief technology officers have resigned in the past 15 months. The Company is only 20 months old. Ultimately, we think Hyzon’s parent has taken advantage of the general suspension of disbelief in financial markets to enrich insiders by repackaging an old technology in a fig leaf of misleading deal announcements and illusory customer contracts.
Blue Orca is Short Hyzon Motors Inc. (NASDAQ: HYZN)
We are short Hyzon Motors Inc. (“Hyzon” or the “Company”) (NASDAQ: HYZN), a zero-revenue hydrogen EV SPAC which we liken to a Chinese Lordstown Motors. In our opinion, Hyzon’s supposed major customers are a fake-looking Chinese shell company incorporated three days before the deal announcement and a tiny New Zealand startup which told us they are not really a customer.
Hyzon is just a repackaging of a flailing Chinese parent company which has been trying to sell the same hydrogen fuel cells without much success for 17 years. The parent entity was delisted from the Chinese OTC exchange in early 2021 at an enterprise value of sub $200 million. Hyzon is just a worse version of this same business in SPAC form, yet trades at 10x the valuation. We think Chinese investors obviously knew best.
Notably for a zero revenue SPAC banking on the future value of its technology to save its business, two of Hyzon’s chief technology officers have resigned in the past 15 months. The Company is only 20 months old. Ultimately, we think Hyzon’s parent has taken advantage of the general suspension of disbelief in financial markets to enrich insiders by repackaging an old technology in a fig leaf of misleading deal announcements and illusory customer contracts.
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