Jim Cramer on Eos Energy: "Sell It"

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) is one of the stocks Jim Cramer commented on. Mentioning that they bought the stock last year, a caller asked what is going on with it. Here’s what Cramer had to say in response:

Sell it. I mean, it’s just a kind of classic, that’s a year of magical thinking, magical investing stock. We don’t want to touch that one. But it is in Edison, New Jersey, which is where, by the way, Edison was born. It just happens to be a great coincidence.

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) develops zinc-based battery energy storage systems designed for utility-scale and industrial use as an alternative to lithium-ion and lead-acid technologies. The company announced the launch of Eos Indensity on January 14. The architecture uses a design framework called Spatial Intelligence to handle site-specific needs for scale and safety. The system builds on the company’s Z3 module and zinc-powered Znyth technology. Eos Energy Enterprises, Inc.’s (NASDAQ:EOSE) CEO, Joe Mastrangelo, said:

We’ve taken everything we’ve learned over 15 years and built a system that answers the toughest questions in energy storage: How do you scale responsibly? How do you deliver flexibility without compromise? How do you make storage safe enough to sit next to the assets that power modern life? The idea of what we call Spatial Intelligence—thinking deeply about and designing for the daily needs and realities of the places our storage would go—that was our team’s guiding star, and Indensity is our answer. And it’s ready now.

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Disclosure: None. This article is originally published at Insider Monkey.