"Over the years, Plug Power has diluted the stock many times and has nothing to show for it. The company has destroyed shareholders' value and is yet to report a financial year. All these factors point toward an incompetent CEO and board, which is why I would suggest investors to stay away from the stock."
Given the risks, I think investors should consider selling Plug Power and would only recommend buying the stock when the company's management lays out a clear plan regarding its turnaround. Given the management history, it should not be believed anyway.
They did NOT beat analyst estimates. The stock jumped on a pumping article by a liar named Margolis who posted on SA of $35+ million ($40 million as high end) revenues. PLUG missed by a huge margin. They missed on earnings per share by one cent or 20%. Long term includes more losses and more dilution. Entry into Europe and R&D expenses will cause the losses to accelerate.
Don't believe the pumping #$%$. They have been saying the same thing for 20 years and the company has never turned one dime of profit.
And PLUG paid Deloitte a small fortune to print that!
Entry into Europe will cost PLUG and its shareholders millions. Entry into Europe will undoubtedly lead to a massive round of dilution. PLUG CEO stated the company will focus like a laser on the material handling market. That promise was already broken but entry into other markets will lead to increased R&D expenses. Given the long product development cycles in the fuel cell space, the "path to profitability" which Marsh has used many times to dupe investors to part with their money is being pushed out yet again. As investors, one should hold Marsh and his cronies accountable. Simple answers to simple questions. Mr. Marsh, "when will the company be profitable"? Mr. Marsh, "do you promise no further rounds of dilution"? If you are a pumper on this board or a basher, these are the questions.
Who else is using 3M membranes? Does not look like anyone important. They can not be any good. This could cost PLUG and investors hundreds of millions more.
You hate the facts! Your numbers are way off though. The "bashers" were screaming sell at $11.60.And the pumping #$%$ on this board were screaming buy at $11.60. The multiple IDs are the pumpers, insiders, BOD members and employees of PLUG.
That is why they are begging Gibson for bailout money.
It is easier to bailout a financing arm than a failed company.
The fat cats will continue to get fat.
Actually Home Depot just purchased 300 battery powered forklifts. Due your DD and look it up.
The only people making money with Plug are the shorts. Just ask the investors of the last six rounds of dilution. With the exception of Air Liquide who invested with insider knowledge knowing the Walmart deal every single investor in the last six rounds of dilutions have lost huge.
It is already factored into stock price. Each and every unit sold for a loss.
Walmart just purchased 2000 battery powered forklifts. Do your due diligence.
What should be depressing to investors is the fact that 80% of all PLUG sales are leases. Accounting gimmicks at there best. Good news is the SEC investigates such activity “We allege that at the highest levels of its accounting department, Bankrate improperly inflated its financial performance to avoid falling short of Wall Street’s expectations,”
The SEC IS doing its job. And it WILL catch up....“Individuals who obtain confidential information through a relationship of trust with a corporate insider are prohibited from using that information to trade securities" and for other atrocities “We allege that Isaza-Tuzman and Smyth brazenly falsified the financial condition of a public company and misled investors and auditors about the company’s revenues and ability to deliver the products it was touting,”
Matt, Chris and analytical mind all very desperate to just break even with there Plug investment. Home Depot factored into current share price, European expansion and Relion add to companies losses. Look for more dilution before end of year.
And insider trading is illegal. “Individuals who obtain confidential information through a relationship of trust with a corporate insider are prohibited from using that information to trade securities,” said Joseph G. Sansone, Acting Co-Chief of the SEC’s Market Abuse Unit. “These traders violated such a trust by using highly-sensitive information to reap illicit trading profits.”
The fact is the company has been saying EBITDAS breakeven since 2009. Never happens. What does happen is more dilution and more misleading statements from corporate executives.