A vertical plate oscillating vertically in a statically stably-stratified fluid induces an internal wave damped by viscous forces. A two-dimensional linear stability analysis of this time-dependent state shows that the wave is highly unstable when the buoyancy and forcing frequencies are comparable. This gravitational (buoyancy) instability is due to the presence of the background stratification. The neutral curve is calculated and the system energetics are explored. Excellent agreement is obtained with the recent experimental observations of Robinson & McEwan.