Professional
Added to YB: 2026-06-25
Pitch date: 2026-06-23
HYLN [bearish]
Hyliion Holdings Corp.
Author Info
Pelican Way Research is an activist short selling and research firm dedicated to public market transparency. Sign up for the newsletter.
Company Info
Hyliion Holdings Corp. designs and develops power generators for stationary and mobile applications. Its primary product includes the KARNO Power Module, a fuel-agnostic power generating solution, which enables distributed power generation using conventional fuels, such as natural gas, propane or diesel; waste fuels, such as landfill and wellhead gas; zero carbon fuels, such as renewable hydrogen and ammonia.
Market Cap
$1.1B
Pitch Price
N/A
Price Target
N/A
Dividend
N/A
EV/EBITDA
-20.41
P/E
-20.81
EV/Sales
175.15
Sector
Electrical Equipment
Category
N/A
We are short Hyliion Holdings ($HYLN)
HYLN (short): Up ~150% on a $133mm LOI w/ VFG Holdings, which Pelican Way alleges is a sham—4 employees, incorporated Jan 2026, no funding/address. Serial promoter CEO Healy (ex-EV SPAC flop) paid $15.4mm vs $8mm total rev. KARNO tech unproven (bought from GE for $37mm), $139mm cash bleeding ~$50mm/yr, dilution looming. Pipeline inflated ~33%, gov't is 100% of revenue.
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