by Stephen Spruiell
The Corner on National Review Online
Thursday, September 24, 2009
NRO usually isn’t in the business of making stock picks, but a word of caution for anyone tempted to be swept away by the news of hybrid-car battery-maker A123’s successful IPO today: We’ve seen this movie before. Here’s the Reuters write-up of the A123 IPO:
SAN FRANCISCO (Reuters) – A 50 percent leap in the shares of lithium-ion battery maker A123 Systems Inc on their first day of trading looks likely to jumpstart the market for clean-tech share offerings.
The Watertown, Mass.-based A123 Systems is now worth over $1.9 billion, a striking valuation for a company that has yet to make a profit and still needs large-scale commercialization.
Industry executives and experts said A123’s success shows investors have an appetite for green technology companies that lose money, but have tremendous potential.
The rest of the article is here.
