Boston, MA 03\/19\/2014 (wallstreetpr) –\u00a0Plug Power Inc (NASDAQ:PLUG)<\/b> is in the \u2018green energy\u2019 business of making fuel cells. However, it\u2019s not doing anything revolutionary in terms of inventing new technology or improving existing technology. To think of Plug as another Tesla Motors Inc (<\/b>NASDAQ:TSLA<\/b>)<\/b> would be a misunderstanding of battery and fuel cell technology. And that\u2019s apparently what\u2019s happened with the Plug stock as its price rose during the dot com boom and then eventually lost 99.9% of its value.<\/p>\n
The recent huge trading volume is mostly speculation by day traders which has nothing to do with the company\u2019s fundamentals or the dynamics of the alternative energy sector.<\/p>\n
Just Forklifts<\/b><\/p>\n
It\u2019s not as if Plug engineers have made the dream of room temperature controlled fusion a reality. The company merely supplies fuel cells that power \u2014 among other things \u2014 forklifts. The company has recently received orders to supply its hydrogen fuel cells to Wal-Mart Stores, Inc. (NYSE:WMT)<\/b> worth several million dollars. The company also reported new order bookings of more than $32 million from The<\/b> Kroger Co. (NYSE:KR)<\/b>, BMW, and Mercedes. But its recent third-quarter results were less than awe-inspiring. The company reported FY2013 net loss of $62.7 million even though the CEO, Andy Marsh confidently predicted that \u201corder for this year will total more than $150 million \u2014 almost four times our total for 2013.\u201d It\u2019s worth remembering that Plug has racked up more than $500 million in net losses over the last decade. The net loss for 4Q2013 was $28.9 million including a $20.9 million non-cash charge related to the change in fair value of common stock warrants. They\u2019re expecting more<\/i> of these charges in the 1Q2014 results.<\/p>\n
Casino Stock<\/b><\/p>\n
But the bottom-line is that \u201cPlug Power has no profits, no unique technology, no scalability, no demand, no brand equity, no media hype and no analyst support,\u201d according to Andrew Left of Citron Research. According to Left, investors cannot trust the company\u2019s management since they have been providing quite unrealistic forward guidance. The management has been \u201cactively deceiving the marketplace,\u201d Mr. Left said on CNBC\u2019s Street Signs.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 03\/19\/2014 (wallstreetpr) –\u00a0Plug Power Inc (NASDAQ:PLUG) is in the \u2018green energy\u2019 business of making fuel cells. However, it\u2019s not doing anything revolutionary in […]<\/p>\n","protected":false},"author":10,"featured_media":16374,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[263],"tags":[4309,635,2712,801,4308,2066,2711,1914],"stock_ticker":[],"class_list":["post-17616","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-nasdaqplug","tag-nasdaqtsla","tag-nysekr","tag-nysewmt","tag-plug-power-inc-nasdaqplug","tag-tesla-motors-inc-nasdaqtsla","tag-the-kroger-co-nysekr","tag-wal-mart-stores-inc-nysewmt","entry"],"acf":[],"yoast_head":"\n