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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
Rosner Stocks
20 Dec 14 15:35:05
$CSCO Filings Updated Saturday, December 20, 2014 5:59:24 PM $MYEC $KMI $PLUG $PLUG http://t.co/nYV1CM4i04
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20 Dec 14 14:03:19
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20 Dec 14 13:49:15
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20 Dec 14 13:33:25
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20 Dec 14 13:33:11
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20 Dec 14 12:35:52
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20 Dec 14 12:33:10
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20 Dec 14 12:18:26
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20 Dec 14 12:16:50
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20 Dec 14 12:16:04
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20 Dec 14 11:59:28
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IH News Desk
20 Dec 14 10:48:16
$PLUG Percent Change Updated Saturday, December 20, 2014 1:11:27 PM $EBAY $KMI $CUBA $TLT http://t.co/tZtO3TlGqt
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20 Dec 14 10:48:08
$UPRO Investor Opinions Updated Saturday, December 20, 2014 1:11:27 PM $PLUG $NKE $TNA $CVX http://t.co/5xFDQKk8WT
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20 Dec 14 10:31:13
$XHB Reviews Updated Saturday, December 20, 2014 1:03:25 PM $PCLN $PLUG $SLW $HL http://t.co/krVNsvjqcI
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20 Dec 14 10:31:08
$IMSC Opinions Updated Saturday, December 20, 2014 1:03:25 PM $DBA $JNK $PLUG $SWKS http://t.co/8DQ5Z1L7Kl
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20 Dec 14 10:31:04
$PLUG Reviews Updated Saturday, December 20, 2014 1:07:25 PM $BAC $STTK $ACN $XLE http://t.co/Wz9yxLtXCM
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20 Dec 14 09:27:16
Platinum Memberships Rose, After 528% Gains On Penny Stocks, In One Month! Big Update: http://t.co/2W3yKD2d5Q $LPR $TGD $PLUG
@Boulder2DIA
20 Dec 14 08:03:50
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HotStockAlert $PKGM$
20 Dec 14 08:00:17
ClayTrader: * * $PLUG Video Chart 12-19-14 * * http://t.co/JZAUrWSGHd
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20 Dec 14 07:54:18
ClayTrader: * * $PLUG Video Chart 12-19-14 * * http://t.co/VXQbNrEu0M
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20 Dec 14 07:54:14
The Hunt: ClayTrader: * * $PLUG Video Chart 12-19-14 * * http://t.co/fPxCMB8KWi
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20 Dec 14 07:53:40
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20 Dec 14 07:52:01
ClayTrader: * * $PLUG Video Chart 12-19-14 * * http://t.co/s8Vjettzzp
@Boulder2DIA
20 Dec 14 07:45:55
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@Boulder2DIA
20 Dec 14 07:44:18
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Rosner Stocks
20 Dec 14 07:28:10
$ERX Financials Updated Saturday, December 20, 2014 09:59:24 AM $PLUG $AZFL $UCO $IWM http://t.co/lTKxgn2mVE
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20 Dec 14 06:27:57
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19 Dec 14 20:37:24
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  +Follow January 9, 2014 11:39AM
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