Plug Power, once a $150 dot-com stock, now trades under $3 due to growth slowdown and losses; it remains the world's largest liquid hydrogen buyer.
Plug Power, a hydrogen energy company, was once a hot dot-com stock trading at $150. Today, it trades at under $3 due to a slowdown in growth and steep losses. Its largest claim to fame is being the world's largest single buyer of liquid hydrogen, with 69,000+ fuel cell systems and 250 fueling stations. A delayed annual report and restatement of financials for 2018 and 2019 have further eroded investor confidence. Despite its struggles, some contrarian investors may view it as a turnaround play.
July 28, 2024
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