Hannon Armstrong shares drop amid accusations of inflated earnings

Hannon Armstrong Sustainable Infrastructure Capital Inc. shares dropped by nearly 20% on Tuesday after a scathing report by short seller Muddy Waters Capital LLC called into question its earnings and cash flow numbers.

Muddy Waters called Hannon Armstrong (NYSE: HASI) “a prime example of how public market incentives can warp a company into relentlessly pursuing value destructive investments in order to feed a Wall Street growth narrative,” in a report that alleged the Annapolis-based real…


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