Should Feds be pouring $45 million into UQM Technologies? Buying votes for Betsy Markey?

Vice President Joe Biden is coming to Colorado to boast that the government has granted Longmont-base UQM Technologies $45 million that the company will use to build a factory, Chris Hubbard reports.

I’ve been following UQM off and on for about a dozen years, mostly because my former investment club owned it a few times.

The stock peaked at the beginning of the year at $7.45 and is trading at $4.10 now. It’s been trying to sell its technology for years, but investors haven’t seen enough potential to fund its expansion. When a company needs government support to stay in business and/or grow it, you know that the smart investors don’t think much of it. And if they don’t like it, it’s a loser. You can research UQM by searching “UQM stock” or by reading about it on Yahoo.

So we have the Democrats trying to pick winners and losers in the energy business. And, as usual, they’ve picked a long-term loser to back. You have to wonder about the political connections that brought the funding to UQM. Which top executives, directors, consultants, lawyers, lobbyists or large investors used their political influence to bring $45 million of taxpayers’ money to UQM?

Or is this just another effort by the Obama administration to use taxpayers’ money to buy votes for appointed Democrat Senator Michael Bennet and hard left Democrat U.S. Rep. Betsy Markey (D, CD-4) who represents Longmont in Congress? 

Why hasn’t anybody bothered to buy this wonderful company and grow it? Why has the stock dropped so sharply since the beginning of the year? Why are its charts saying sell big time? The stock’s point and figure price objective is $1.00.

This is truly a big Biden/Obama deal that shouldn’t be happening.

For educational purposes only. Investigate before you speculate. I am not recommending any trades and take no responsibility for how others trade stocks, ETFs, commodities or anything else.

1. Here’s a real safe bet. The LSM will cover this as part of Colorado job creation helped along by Zero’s administration.  Another bet, they will fail to bring up any points you raise.

   Maybe Ali Hasan will be at media event with Joe. They would make quite a pair, both with big mouths. Ali could advocate that UQM issue bonds, which as Treasurer he could purchase on behalf of Colorado instead of investing in those Washington loser bailout companies.

   Posted by Laura Victoria  on  04/29/2010  at  12:20 PM

Commenting is not available in this channel entry.

<< Back to main