Thesis Summary
Plug Power Inc. (NASDAQ:PLUG) rallied hard following the restatements of its financial accounts of the last three years. As expected, this did not have any material effects on sales and cash balance, but it does bring to the surface
Plug Power: Last Chance To Board The Hydrogen Hype Train
Summary
- With the financial restatements out of the way, Plug investors can breath a little easier.
- The company has ambitious profitability targets and is making the right moves to achieve them.
- Institutional ownership is high, and support from the government is increasing, providing a further tailwind.
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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