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Plug Power Inc (PLUG) Experiences Extreme Whipsaw Action

  +Follow January 9, 2014 11:39AM
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Green energy company Plug Power Inc. (PLUG) continued its trend of violent up and downswings, as shares dropped significantly the day after an announcement of a deal with FedEx caused shares to soar.

Plug Power had been on a dramatic rise at the end of 2013, with a particularly sharp uptick in December. That first spike was caused by an announcement from CEO Andy Marsh, who assured investors that for the first time in 16 years Plug Power would finally turn a profit.

Plug Power develops and manufactures clean energy fuel cells. With the green energy market exploding, Plug Power had finally started to see a turnaround.

Major Uptick

Following a return to profitability, Plug Power gained additional traction on Jan. 8 when the company announced a partnership with shipping behemoth FedEx (FDX) to supply them with clean energy fuel cells for a proposed fleet of electric delivery trucks.

The $3 million deal was financed by the Department of Energy, who have supplied hefty good-faith loans and subsidies to green energy companies as of late.   

The resulting stock rise meant that in less than two weeks, the company had doubled in value.

Major Correction

The very next day the market corrected investors' exuberance. After all, the deal with FedEx, while nice, hardly justified an over $50 million one-day increase in valuation. On Jan. 9 the stock plunged amid heavy trading, shedding 21.20 percent in value to settle in at $3.59 a share.

As recently as one year ago, Plug Power, which at one time was worth over $1,500 a share, was on the brink of bankruptcy. While they have indeed returned to profitability, and the trend towards green energy seems to have no chance of waning anytime soon, the massive valuation increase of Plug Power was not sustainable, and could be due for further correction going forward.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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Results for PLUG
Trader News Daily
26 Nov 14 07:25:39
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Stephen s
26 Nov 14 07:18:29
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chartguy89
26 Nov 14 07:14:12
IYT Stock Chart $IYT $ACHN $PLUG $S http://t.co/n5TqTzoMhB http://t.co/9QLGF8i5yF
chartguy89
26 Nov 14 07:10:00
SLTD Stock Chart $SLTD $AGU.TO $PLUG $DIS http://t.co/CEAlVYotH1 http://t.co/gGuoZ5aFIl
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26 Nov 14 06:52:45
DennyT: SVXY Financials $SVXY $EPI $PLUG $ITB $TRUE http://t.co/TbAwBgYKTz
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26 Nov 14 06:50:42
DennyT: SVXY Financials $SVXY $EPI $PLUG $ITB $TRUE http://t.co/3Q2YbVcPur
Investors Hangout
26 Nov 14 06:50:39
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26 Nov 14 06:49:29
$MXWL liftin off again $TSLA $FB $MU $JD $C $WFC $BAC $AAL $CTPR $VNET $GPRO $X $HPQ $CMG $F $GM $GS $AA $JPM $Z $PLUG $ZU $BLDP $FCEL $DDD
DennyT
26 Nov 14 06:49:01
SVXY Financials $SVXY $EPI $PLUG $ITB $TRUE Buy?,Chart,High,Company News,alot of talk going around about this http://t.co/slBKqA2OMx
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26 Nov 14 06:39:20
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26 Nov 14 06:34:43
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26 Nov 14 06:22:39
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26 Nov 14 06:22:35
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26 Nov 14 06:15:40
Fibonacci Technical Levels $SPY, $QQQ, $BAC, $PLUG ​#spy #qqq #bac #plug http://t.co/QtIC1ep7Dg
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26 Nov 14 05:53:28
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26 Nov 14 05:21:59
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26 Nov 14 05:16:42
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26 Nov 14 05:16:32
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26 Nov 14 05:12:44
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Hydrogen Economy
26 Nov 14 05:10:51
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Dave Neville
26 Nov 14 05:00:37
Commit To Purchase Plug Power At $2, Earn 25% Using Options http://t.co/yhfIrtffIe via @TheStreet $PLUG
JonnyP
26 Nov 14 04:30:45
Squeeze on $PLUG coming up....? Maybe in a few months -___-
Financial Iceberg
26 Nov 14 04:19:17
Fibonacci Technical Levels $SPY, $QQQ, $BAC, $PLUG ​#spy #qqq #bac #plug http://t.co/mDfdmFJr5D
Marc Hav FX
26 Nov 14 03:24:53
$PLUG PLUG POWER INC. (UPDATED 25NOV2014) http://t.co/6ufefqOGYw
Marc Hav
26 Nov 14 03:24:52
$PLUG PLUG POWER INC. (UPDATED 25NOV2014) http://t.co/vdjVafqDy3
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26 Nov 14 02:23:42
Interview with SuperTrades top student Triforcetrader! http://t.co/Hce0Z2DnDs $BABA $UBNT $CSIQ $FSLR $DUST $OLED $PLUG
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26 Nov 14 02:11:51
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26 Nov 14 00:15:21
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strategynode
25 Nov 14 21:19:07
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25 Nov 14 21:08:27
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25 Nov 14 20:47:38
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25 Nov 14 19:50:23
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25 Nov 14 19:29:06
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25 Nov 14 18:29:29
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25 Nov 14 17:59:47
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25 Nov 14 17:26:57
Commented on StockTwits: You made 60K on $PLUG!? Damn son! Good on ya! http://t.co/NUYMTJpH03
berdiseba
25 Nov 14 17:15:08
Commented on StockTwits: $PLUG is a very painful equity to own. Wait it out, it will go up and you'll need act qu... http://t.co/TyZYkeA8h8
strategynode
25 Nov 14 16:59:56
$PLUG look for going long 3.96 exit at around 4.21
Dave
25 Nov 14 16:16:02
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25 Nov 14 15:59:57
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25 Nov 14 15:57:45
Commented on StockTwits: I've been watching $PLUG since April, and like I told you, got carried away by emotions ... http://t.co/ZUCumH3fro
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25 Nov 14 15:56:32
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25 Nov 14 14:59:58
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25 Nov 14 14:12:33
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25 Nov 14 14:09:43
$PLUG http://t.co/37geTyTOjY
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  +Follow January 9, 2014 11:39AM
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