HYZN - Hyzon Motors tracks lower after warning financial statement will be filed late

Hyzon Motors ( NASDAQ: HYZN ) filed notice with the SEC that its quarterly financial statement will be late.

The company will also not be able to file by the extended filing date pursuant to Rule 12b-25.

Hyzon Motors ( HYZN ) noted that its board appointed a committee of independent board members to investigate, with the assistance of independent outside counsel and other advisors, certain issues that were brought to the attention of the board by Company management. These issues include revenue recognition timing, presentation, internal controls and procedures, primarily pertaining to its China operations.

Shares of Hyzon Motor ( HYZN ) fell 1.28% in premarket trading on Wednesday to $2.31 vs. the 52-week trading range of $2.14 to $11.37.

The Seeking Alpha Quant Rating was flashing Strong Sell on HYZN as early as late December of last year when shares were 300% higher.

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