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Short Seller On Energous: 'Game Over...Again'

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Short Seller On Energous: 'Game Over...Again'
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Copperfield Research is the pseudonym of a research team focusing on publicly traded equities. On January 23, the firm released a report on Energous Corp (NASDAQ: WATT), a developer of a wire-free charging system for electronic devices.

The report was titled "Energous Corporation (WATT): Game Over," and Benzinga had the opportunity to chat with the company's CEO Stephen Rizzone.

Follow-Up Report

On Monday, Copperfield Research followed with a second report on Energous with a new report, which suggested it is "game over again."

The latest report highlighted the "ignominious interpretation by stock blogs and various reporting agencies" surrounding the company's DA2200/DA2210 announcement with Dialog Semi.

Copperfield noted that Dialog's own diagram may confirm that Apple Inc. (NASDAQ: AAPL) isn't working with Energous — as has been widely speculated last year. For instance, BGR's Zach Epstein explored what a relationship between Energous and Apple would like in future iPhones. The mere mention of a collaboration helped drive shares of Energous higher by more than 15 percent at that time.

Copperfield added in its report that Energous' solution does not convert AC to DC, which is a requirement for inductive charging — and a relationship with Apple could be ruled out at this time.

"As investors recognize that Apple is using inductive wireless charging, they must also accept that WATT is not involved," the report emphasized.

At last check, shares of Energous were down 2.17 percent at $15.79.

Posted-In: BGR Copperfield ResearchNews Movers Tech Media Trading Ideas Interview

 

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