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Hoku Scientific (HOKU) Plunging 30% On Financing Concerns

Hoku Scientific (HOKU) reported earnings after the bell yesterday, but it isn’t the earnings that’s driving the stock down this morning, it’s concern  that the company won’t be able to raise enough cash to fund construction of its Idaho polysilicon plant and possibly remain in business.  The company has a $106 million gap that it’s working to fill through customer pre payments and financing.  However, due to a tough credit market, the company is acknowledging … Read the rest