Out Fox The $treet

Update - Apr. 23, 2024 Plug Power now has major hydrogen plants in production, now the company has to  start eliminating all of the extra costs for fuel. Stock has the potential for a double bottom low with the elimination of high fuel costs.  -Plug Power (NASDAQ:PLUG) +1.2% pre-market Tuesday after saying it has reached nameplate capacity at the company's hydrogen plants in Georgia and Tennessee, with its Louisiana joint venture with Olin on track to achieve mechanical completion by the end of Q3. -Plug said its Georgia hydrogen plant, home to the largest Proton Exchange Membrane electrolyzer system in the U.S., has been running at a stable rate of 15 tons/day since the beginning of April. -With Plug's Tennessee plant now operating at nameplate capacity of 10 tons/day, the company said it has achieved a total liquid hydrogen capacity of 25 tons/day, which can fulfill roughly half of its customers' green hydrogen demand. Original article posted on Apr. 5, 2024 Plug Power In...

  Plug Power started 2023 by again cutting revenue targets for 2022. The green hydrogen company has elevated costs and future revenue backlog far below the 2023 guidance level. The stock remains a Sell, even with the dip below $15. This idea was discussed in more depth with members of my private investing community, Out Fox The Street.  Learn More »   Plug Power  ( NASDAQ: PLUG ) has started 2023 off the same way the company ended prior years. The green hydrogen company spent January busily cutting revenue guidance, cancelling a big deal with a partner and announcing another deal. My  investment thesis  remains Bearish on the stock due to a constant overpromising and underdelivering record while burning tons of cash on excessive spending. Read the full article on Seeking Alpha Disclosure: No position mentioned. Please review the disclaimer page for more details.