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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
Carmine
2 Sep 14 09:09:32
$PLUG is falling today as well down 3% I'm watching this one closely might get in soon
PsychSignal
2 Sep 14 09:04:27
175.0% increased bullish conversations in $PLUG in the past 1 hour.
randall millard
2 Sep 14 09:02:41
$PLUG dropped right to 5.32 fib. 6.48,6.03,5.32 levels
Montange Portfolio
2 Sep 14 09:02:30
$PLUG for those trading this underline, know the reversal is imminent. Market sentiment does effect Plug Power with a beta 1.2
Patrick
2 Sep 14 09:00:05
#SENTISHIFTDOWN $DRL $LVS $QIHU $GOLD $GLD $PLUG $GDX $NKE $KNDI $EXEL #quantheta
lookn4wins
2 Sep 14 08:57:36
$F Parabolic SAR $F Most recent stock chart and technical analysis. $WUBA $T $FB $IBM $EDC $PLUG http://stockc http://t.co/tgbKKGSSyo
Day Trade Alerts
2 Sep 14 08:55:10
via #AlertTrade SHORT Seller Alert $PLUG - PLUG POWER #ShortSeller #Stocks http://t.co/VS8RO1bzXJ
Montange Portfolio
2 Sep 14 08:52:52
$PLUG 5.52 support broken, new support at 5.40
Paul
2 Sep 14 08:52:11
$PLUG $TWTR $WEAT $JCP #BBRY #stocks http://t.co/CkKLn90O0e
Saprodani Associates
2 Sep 14 08:51:05
$PLUG Plug Power is expected to announce a multi-million dollar contract this month and is likely to close on more contracts with Walmart!
Stock Headlines
2 Sep 14 08:41:05
$PLUG: Reveal Insider Trading for Facebook, Plug Power, Achillion Pharmaceuticals ... http://t.co/0i6JU7PbH8 http://t.co/6CUBcYDk9j
Zubeyr Kamil Açıksar
2 Sep 14 08:40:20
RT @beckyhiu: Toyota $TM plots ‘society-changing’ fuel-cell car for the masses http://t.co/fS9tjzGAVB <-- $PLUG $FCEL $BLDP ... anyone?
Saprodani Associates
2 Sep 14 08:39:00
$PLUG The short cover level appears at $6.50 - wait for it and then buy with vigor! $25+ next year!
Becky Hiu
2 Sep 14 08:38:31
Toyota $TM plots ‘society-changing’ fuel-cell car for the masses http://t.co/fS9tjzGAVB <-- $PLUG $FCEL $BLDP ... anyone?
J
2 Sep 14 08:31:16
RT @ThinkingAlpha: Stocks w/ huge YTD impacts: $BIOF $ITMN $PEIX $SMTP $ICPT $RDNT $CBMG $PLUG $ACHN $PTX $EMES $CTP $FOLD $LIVE Discuss ht…
Thinking Alpha
2 Sep 14 08:30:16
Stocks w/ huge YTD impacts: $BIOF $ITMN $PEIX $SMTP $ICPT $RDNT $CBMG $PLUG $ACHN $PTX $EMES $CTP $FOLD $LIVE Discuss http://t.co/OpfXXnNf0b
kristoffer johannes1
2 Sep 14 08:30:01
@offshorehunters $plug 5.42
Joe Hofland
2 Sep 14 08:25:07
$DGLY and $ISNS reminding me a lot of $PLUG & $BLDP
chartguy89
2 Sep 14 08:21:41
PLUG Stock Chart $PLUG $AZFL $ARWR $MYEC http://t.co/DtjFyoiPhN http://t.co/RHQhxTlO3M
Wall Street Newscast
2 Sep 14 08:11:00
$HKUP iHookup mobile app looks to become next #Tinder (chart) http://t.co/LtUUc5jbnB #Grindr $IACI $MEET $DATE $FB $SOCL $TWTR $PLUG $RSH
Wall Street Newscast
2 Sep 14 08:02:34
$WPCS expecting major #Bitcoin news, stock last trade $1.23 per share (chart) http://t.co/KGFqiBygTI #Dogecoin #btc $PLUG $GTAT $RSH
Saprodani Associates
2 Sep 14 07:58:43
$PLUG Trading lower today at $5.50 - buy the dips here folks $25 next year!!!
George Maniere
2 Sep 14 07:53:06
@liamkmac: Thanks George Been a good year with $GILD $PLUG and $FB all hitting my upside targets Now time to try and find another one U will
liamkmac
2 Sep 14 07:51:29
@GeorgeManiereg Thanks George. Been a good year with $GILD $PLUG and $FB all hitting my upside targets. Now time to try and find another one
TheSaidi
2 Sep 14 07:50:31
@AMeshkati $WMT can literally single-handily revive companies from the dead. $PLUG earlier this year, now (allegedly) $IWSY
chartguy89
2 Sep 14 07:46:58
WFM Stock Chart $WFM $EWZ $PLUG $CTIX http://t.co/3UX1jBdLQX http://t.co/Z0okAqzkjk
Montange Portfolio
2 Sep 14 07:44:15
$PLUG chart 5.52 critical support...https://t.co/VSdZgkqE7J via http://t.co/AWFUxyRW47
TV_Trading Ideas
2 Sep 14 07:43:06
SUPPORT AT 5.52 $PLUG http://t.co/XDNOZYCgmb
Stocks in News
2 Sep 14 07:40:51
$PLUG: Plug Power Inc (PLUG) Earnings Preview: Big Gains Expected http://t.co/baAStkz4Zf http://t.co/p9m2yQIk4F
Ansonlavida
2 Sep 14 07:33:48
$PLUG @JayStrauss is it time to give up on this?
chartguy89
2 Sep 14 07:30:00
GDX Stock Chart $GDX $UNG $VLO $PLUG http://t.co/1UV0vXUv2T http://t.co/5Va9EpXyYn
Investors Hangout
2 Sep 14 07:14:19
danrocks: $MUX Buzz $AVGO $PRAN $PLUG $WYNN $ACAD http://t.co/fSB7Aijflg
Investors Hangout
2 Sep 14 07:14:19
danrocks: $MUX Buzz $AVGO $PRAN $PLUG $WYNN $ACAD http://t.co/AhCT6UbhNn
Paul Wall
2 Sep 14 07:09:34
RT @Brianwihub: $DGLY the greatest pump since $PLUG insane last weeks here.
Wealthygrll
2 Sep 14 07:09:14
RT @Brianwihub: $DGLY the greatest pump since $PLUG insane last weeks here.
Brian Welsh
2 Sep 14 07:08:59
$DGLY the greatest pump since $PLUG insane last weeks here.
Jake13
2 Sep 14 06:58:54
$FNMA Barchart Opinion Click here to find out if $FNMA is a buy hold or sell. Watching these stocks. $FB $PLUG http://t.co/WhL1xHnuMM
danrocks
2 Sep 14 06:56:28
$MUX Buzz $AVGO $PRAN $PLUG $WYNN $ACAD http://t.co/H1D4x6rymh
AllThingsAltBitcoins
2 Sep 14 06:56:22
RT @WallStNewscast: $WPCS #Bitcoin exchange moving up to last trade $1.22 per share (chart) http://t.co/E8z06PrAj4 #btc #dogecoin $PLUG $GT…
Future Tech Investor
2 Sep 14 06:56:17
Looks like $KNDI funders arent going to let it drop below the buy in price $TSLA $TTM $F $GM $JD $FB $YY $AAPL $AMZN $FSLR $DDD $ONVO $PLUG
Wall Street Newscast
2 Sep 14 06:55:34
$WPCS #Bitcoin exchange moving up to last trade $1.22 per share (chart) http://t.co/E8z06PrAj4 #btc #dogecoin $PLUG $GTAT $FITX $FSI $RSH
Stock Headlines
2 Sep 14 06:41:06
$PLUG: Plug Power Will Continue To Grow (PLUG) http://t.co/D7pji3Z6Or http://t.co/CfvQbuHsbp
CannaProducts
2 Sep 14 06:39:01
myopinion: $PLUG Plug Power designs and manufactures fuel cell http://t.co/WgqcMDOMwP
528canna
2 Sep 14 06:39:00
myopinion: $PLUG Plug Power designs and manufactures fuel cell http://t.co/vKltymcZG4
Perfor Mance
2 Sep 14 06:37:50
Option Millionaires: myopinion: $PLUG Call Options up up up http://t.co/VfPDoCBwwW
Marijuanacharts
2 Sep 14 06:36:03
myopinion: $PLUG Plug Power designs and manufactures fuel cell http://t.co/vzF0QGgFtO
Financial Iceberg
2 Sep 14 06:03:58
Fibonacci Technical Levels $SPY, $QQQ, $BAC, $PLUG ​#spy #qqq #bac #plug http://t.co/nUh9eiqDaq
Dilek Celik
2 Sep 14 05:44:08
RT @EBUYUKARSLAN: Today watch list $DGLY $TKMR $PLUG $RSH $GEVO $FEYE Let see if I will have all green like I pick on Friday
ENGIN BUYUKARSLAN
2 Sep 14 05:36:40
Today watch list $DGLY $TKMR $PLUG $RSH $GEVO $FEYE Let see if I will have all green like I pick on Friday
@Boulder2DIA
2 Sep 14 05:13:26
@greenpennydiva $plug landing that new mystery client for 30 million #gamechanger
				
				
  +Follow January 9, 2014 11:39AM
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