Where Will Plug Power Stock Be in 1 Year?

Plug Power (NASDAQ: PLUG), a developer of hydrogen-powered residential systems, seemed like a promising green energy play when it went public in 1999. But its ambitious plan flopped because producing hydrogen is more expensive than producing oil or natural gas, and it was cheaper to expand existing electrical grids than to build new hydrogen infrastructure.In the two decades following the dot-com bust, Plug Power eventually pivoted toward selling hydrogen fuel cells and charging services for forklifts in warehouses and fulfillment centers. That new business grew as it gained some big customers, but some major accounting errors -- which forced it to revise all of its financial statements from 2018 to 2020 -- drove away a lot of its investors. Rising interest rates also crushed its valuations and cast a harsh light on its persistent losses.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool