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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,
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To: Softechie who wrote (49202)1/10/2000 8:25:00 PM
From: Street Hawk  Read Replies (1) of 122087
 
More selling pressure in PLUG? MKTY insiders anxious to sell shares.

Here's an excerpt from tonight's news in Bloomberg out at 5:21 PM:

Mechanical Technology May Sell Some Plug Power Shares, CFO Says

Albany, New York, Jan. 10 (Bloomberg) -- Mechanical
Technology Inc.'s chief financial officer said the company may
sell some of its 32 percent stake in fuel-cell maker Plug Power
Inc., whose shares have almost quadrupled since late October.

Plug Power's rise has boosted the stock of Mechanical
Technology by more than 81 percent in the last four days of
trading. Mechanical Technology, a maker of sensing instruments
and computer-based balancing systems for aircraft engines,
formed Plug Power last year with Detroit utility company DTE
Energy Inc., which also owns a 32 percent interest in Plug.

Plug Power shares climbed with those of rivals because of
analyst and press reports predicting a surge in fuel-cell usage
as pressure to cut pollution grows. Mechanical Technology may
sell Plug Power shares to pay off a $22.5 million loan, said
Cynthia Scheuer, Mechanical Technology's chief financial officer.
``Today, we wouldn't have to sell many shares to pay it
off,' she said.
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