Passing on Fluence Energy

Fluence Energy is one of a handful of stocks on both the "tortoise" and "hare" sides of the Green Screen. The company makes energy storage systems and software. I like the clean energy space but this one falls into the "too hard" bucket. It is only recently cash profitable, it relies heavily on sales to two customers (half of sales), and doesn't really have the recurring revenue model or any kind of identifiable economic moat we like to see. It gets a "pass".

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