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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
WinningStockCoach
20 Sep 14 13:00:00
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Financial Iceberg
20 Sep 14 12:44:37
PLUG Power -Technicals- Daily Fibonacci Levels $PLUG http://t.co/oLepga4NfO
i_like_bb_stock
20 Sep 14 08:23:52
http://t.co/Dxs9rC9b5g Verified $80.75 loss in $PLUG had a decent profit didnt think it would sink back ugh
Stockaholics
20 Sep 14 08:14:42
$ELRA closed up 288.89% on over 315 MILLION Volume! Get our new penny stock picks: http://t.co/qloC4OFNEn $LPR $TGD $PLUG
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20 Sep 14 08:03:26
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William Grove
20 Sep 14 07:54:36
RT @SeekingAlpha: Plug Power Can Ride The Fuel Cell Industry's Growth To New Highs http://t.co/kVmFDWoGHp $PLUG
Financial Iceberg
20 Sep 14 04:13:31
PLUG Power -Technicals- Daily Fibonacci Levels $PLUG http://t.co/tkvEzvQ9mh
Stockaholics
20 Sep 14 00:33:00
$ELRA closed up 288.89% on over 315 MILLION Volume! Get our new penny stock picks: http://t.co/qloC4OFNEn $PFSW $PLUG $PLXT
Stockaholics
20 Sep 14 00:31:44
$ELRA closed up 288.89% on over 315 MILLION Volume! Get our new penny stock picks: http://t.co/qloC4OFNEn $JST $PLUG $SB
Day Traders Group
19 Sep 14 15:29:27
MACD Bullish Crossovers http://t.co/quMVtJcVq2 $TAST $RLD $MANH $OGE $MMP $SPY $FB $DDD $CMG $Q $GDX $X $UGAZ $PLUG $TSLA $WLT & More
Stock_Tracker
19 Sep 14 15:23:19
Plug Power Inc (PLUG) 4.43 $PLUG Tesla seen as top alternative at Investor's Business Daily - Tue Sep 16, 5:50 http://t.co/yM3QMAOZ73
TheStreetOption
19 Sep 14 14:13:01
$PLUG (09/19/2014) http://t.co/tei8sQVt5G
Equities.com
19 Sep 14 13:44:44
Hottest Small-Cap Stars Tech Stock for September 19 is Emcore Corporation (EMKR) $PLUG $IWSY $SLI $CALD $EMKR http://t.co/A2XzpOhRiZ
@razielbolsa
19 Sep 14 13:27:50
Some of my high flyer names to buy on pullback are $ARWR $HPJ and $PLUG when stabilizes a little
DayTrading Power
19 Sep 14 13:14:39
Live chat results : $JBLU $VHC $PDEX $AEO $HIMX $CNET $PLUG $ARNA $BABA $TWTR $ORCL went 13/20 for -$291, Tough day with BABA dominating
US_proptrader
19 Sep 14 12:41:13
$CZR $EEP $EMKR $JRJC $PLUG autocharts @ http://t.co/hj7PGeTQk3
US_proptrader
19 Sep 14 11:41:19
$ACHN $CZR $EMKR $JRJC $LOCO $PLUG $RCPT $TKMR autocharts @ http://t.co/hj7PGeTQk3
danielo
19 Sep 14 11:41:11
$PLUG That's the plug I know! Go for it.
Trader News Daily
19 Sep 14 11:20:44
$ASKH on low float accumulation watch. Related: $ARNA $GRLT $WLT $IAG $FMCC $PLUG $HERO $HL $ENCR $ACI $COCO $HYSR $FCEL $GRCU $PDEX $PAL
danielo
19 Sep 14 10:59:07
$PLUG power hour is back gentlemen!
Vincent Chen
19 Sep 14 10:49:27
@RKG2112 $YHOO $SBUX $PLUG $HILL $TSLA $HPQ I am down 12,600 dollars today from these companies in my portfolio. I know what it's like.
Investors Hangout
19 Sep 14 10:29:11
danrocks: $GMCR Making Some Noise $CTIC $JNJ $AXCG $PLUG http://t.co/I7EK25tRJj
Investors Hangout
19 Sep 14 10:29:11
danrocks: $GMCR Making Some Noise $CTIC $JNJ $AXCG $PLUG http://t.co/ZKeN86AcKW
D3L
19 Sep 14 10:25:32
$PLUG LONG @ 4.30 creeping higher .... In a zone!
Investors Hangout
19 Sep 14 10:20:11
DennyT: DUST Summary $DUST $PLUG $X $AXAS $WFM Buy or http://t.co/5B8hGalKHf
Investors Hangout
19 Sep 14 10:20:11
DennyT: DUST Summary $DUST $PLUG $X $AXAS $WFM Buy or http://t.co/lfbu4aJIBc
Investors Hangout
19 Sep 14 10:20:04
DennyT: WYNN Company Profile $WYNN $VPOR $RAD $APC $PLUG http://t.co/JtdKH2LjOC
Investors Hangout
19 Sep 14 10:20:04
DennyT: WYNN Company Profile $WYNN $VPOR $RAD $APC $PLUG http://t.co/d8uwqrb41w
Adam Gefvert, CFA
19 Sep 14 10:05:48
And $PLUG ended up falling below Cowen's $5 PT anyways. So situations like $VIMC end badly close to 100% of the time.
DennyT
19 Sep 14 10:04:42
DUST Summary $DUST $PLUG $X $AXAS $WFM Buy or Sell Opinion,200 Simple Moving Average,Stock,Recent Headlines,On http://t.co/CgvTdqig3Y
Adam Gefvert, CFA
19 Sep 14 10:04:30
Therefore, there's no way the stock is going to hold $8. Unless it becomes another $PLUG. But that's a one in a million occurence.
iHangout
19 Sep 14 10:03:21
http://t.co/vVojvVrNNL danrocks: Xtremepicks Alerts: $GMCR Making Some Noise $CTIC $JNJ $AXCG $PLUG http://t.co/nuuTGAArWe
danrocks
19 Sep 14 09:59:47
$GMCR Making Some Noise $CTIC $JNJ $AXCG $PLUG $TSO http://t.co/KykuklE3w2
DennyT
19 Sep 14 09:49:07
WYNN Company Profile $WYNN $VPOR $RAD $APC $PLUG Buy or Sell Opinion,Volume,Volume,Recent Headlines,Starting t http://t.co/TV5kXnWQzc
lookn4wins
19 Sep 14 09:47:51
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danrocks
19 Sep 14 09:34:44
$PLKD Making Some Noise $WFM $ACHN $SMH $XLY $PLUG http://t.co/4Yv04yYR2D
i_like_bb_stock
19 Sep 14 09:00:07
$PLUG out flat I screwed that up
John Giuliano
19 Sep 14 08:47:35
RT @terrisa_drake: $GEIG Exciting NEWS update: Dr Berry, CEO returned my call;-) The Bloomberg TV program will air in mid to late October! …
Investors Hangout
19 Sep 14 08:21:18
Emylers: $PLUG Up to date company activities and other http://t.co/jDNLbAkr0L
Investors Hangout
19 Sep 14 08:21:18
Emylers: $PLUG Up to date company activities and other http://t.co/Ni08IBhzdv
Emylers
19 Sep 14 08:18:38
$PLUG Up to date company activities and other important information about $PLUG http://t.co/cPmBoejWWi
Jose Moreno
19 Sep 14 08:16:22
$PLUG Seeing some reversal
@Boulder2DIA
19 Sep 14 08:05:14
@AltamashJvd @PlugPowerInc the patient has a pulse $plug
PsychSignal
19 Sep 14 08:05:08
225.0% increased bullish conversations in $PLUG in the past 1 hour.
@Boulder2DIA
19 Sep 14 08:03:24
RT @AltamashJvd: Noooo body cares about you today ---> $PLUG. $BABA
Day Trade Alerts
19 Sep 14 07:57:22
via #AlertTrade 5-min Candle Alert $PLUG - PLUG POWER #daytrader #stocks http://t.co/VS8RO1bzXJ
US_proptrader
19 Sep 14 07:52:20
$ACI $ARIA $JRJC $PLUG autocharts @ http://t.co/hj7PGeTQk3
Kneel D
19 Sep 14 07:36:57
$PLUG out $4.52
Gilly
19 Sep 14 07:34:42
$PLUG + .21 here
Eternity101
19 Sep 14 07:33:08
RT @OpenOutcrier: $PLUG strong
				
				
  +Follow January 9, 2014 11:39AM
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