Should i buy plug stock12/2/2023 ![]() However, if the company’s Q2 results meet or beat expectations, PLUG stock price could rebound to nearly $6 per share, the level it last reached in 2014. While the dilution of Plug Power stock has slowed since Amazon bought its stake, the high number of shares decreases the chance of a stratospheric rally like the one that occurred in the late 1990s. Since 2011, the number of shares outstanding has risen from just 22.67 million to 245.8 million today. However, PLUG stock has traded in a range since PLUG’s deal with Amazon.Īlso worrisome is the growing supply of PLUG stock. Still, given PLUG’s deals with Amazon and other top companies, one might assume that PLUG stock has performed well. However, Bloom ‘s results aren’t really very strong either. I stated in a previous article that Bloom has reported stronger financial results than PLUG. PLUG Stock and Its Peers Remain Speculative PLUG’s competitors, such as Ballard Power Systems (NASDAQ: BLDP) and Bloom Energy (NYSE: BE), are also well-positioned to benefit from the space’s growth. Moreover, PLUG’s acquisition of EnergyOr, announced in June, should enable the company to generate meaningful revenue from makers of robotics and unmanned aircraft.Īdditionally, Market Research Engine believes the fuel cell market will grow to $3.48 billion by 2025, representing a 13% compound annual growth rate. PLUG subsequently received orders for its products from Walmart (NYSE: WMT) and GE (NYSE: GE). And PLUG stock was the focus of some attention in 2017 when Amazon (NASDAQ: AMZN) invested $600 million in the company, as it bought shares of PLUG stock and many forklifts powered by Plug Power’s fuel cells. Unfortunately for the owners of Plug Power stock, companies and consumers have focused less on the hydrogen fuel cell power provided by PLUG and more on solar power and the battery power used in electric cars made by firms such as Tesla (NASDAQ: TSLA).Īlthough fuel cells are not being widely incorporated into passenger cars, they have become increasingly widespread in smaller vehicles used in industry. However, reality eventually caught up with PLUG stock, and it closed at $2.28 per share on Wednesday. ![]() During the late 1990s tech bubble, Plug Power stock did indeed jump, as it once sold at around $1,500 per share on a split-adjusted basis. In many ways, PLUG stock appears to be an equity that can move much higher. ![]() After the company made these announcements on June 25, PLUG stock dipped and then rebounded to levels close to where it had traded before the news. The company also said that it would meet its full-year revenue guidance of between $235 million and $245 million and would report positive 2019 EBITDA. ![]()
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