Thesis Summary
Plug Power Inc. (NASDAQ:PLUG) has been on people’s radar in the last few months. This incredibly popular hydrogen play has been under scrutiny since it had to republish its financials
Plug: Let's Get This Party Started
Summary
- Recently, Plug Power has sold-off alongside the Nasdaq and due to allegations of accounting irregularities.
- These accounting irregularities are not nefarious and don't change the long-term prospects of the company.
- Using EWT, I establish a price target for Plug of $239.
James Foord is an economist by trade and has been analyzing global markets for the past decade. He leads the investing group The Pragmatic Investor where the focus is on building robust and truly diversified portfolios that will continually preserve and increase wealth.
The Pragmatic Investor covers global macro, international equities, commodities, tech and cryptocurrencies and is designed to guide investors of all levels in their journey. Features include a The Pragmatic Investor Portfolio, weekly market update newsletter, actionable trades, technical analysis, and a chat room. Learn more.Analyst’s Disclosure:I am/we are long PLUG. 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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