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The Reason Wall Street Is Blanking PLUG's Accounting Problems

Apr. 04, 2021 11:13 AM ETPlug Power Inc. (PLUG)27 Comments
Bashar Issa profile picture
Bashar Issa


  • A colossal of law firms are banding on a class action lawsuit against Plug Power, accusing the company of misleading investors.
  • Statistically, almost half of securities class action lawsuits are dismissed.
  • The reclassification of R&D as COGS will not have a material impact on gross margins. Still, all told, the company has work to do in this regard.

Man Putting Fingers in Ears
Photo by FYMStudio/iStock via Getty Images

Investment Thesis

The recently announced accounting errors have an immaterial impact on Plug Power's investment thesis, which centers on growth in the number of units sold and subsequent economics of scale that would enable

This article was written by

Bashar Issa profile picture
Bashar is a contributing writer at Seeking Alpha, focusing on Long/Short investment ideas, with a geographic focus in North America. Before that, Bashar worked at an Investment Fund in the United Kingdom. He has a Master's degree in Finance from the Queen Mary University of London and a Bachelor's degree in Economics from Middlesex University.

Analyst’s Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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