Investor Alert

New York Markets After Hours

Market Pulse Archives

Oct. 14, 2021, 10:22 a.m. EDT

Plug Power's stock pulls back to snap long win streak after unveiling highlights of annual Symposium

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Plug Power Inc. (PLUG)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

In an apparent case of buy the rumor, sell the news, shares of Plug Power Inc. /zigman2/quotes/205453512/composite PLUG -4.25% pulled back 4.4% in morning trading, putting them on track to snap a seven-day win streak, after the after the hydrogen and fuel-cell systems company unveiled some highlights of its much-anticipated annual Symposium. The stock had soared 12.8% on Wednesday, after a Morgan Stanley upgrade, and had soared 38% over the past seven days. The company said it now expects 2022 sales of $825 million to $850 million, which is above the FactSet consensus of $759.7 million. Plug also established 2025 sales guidance of $3 billion, which compares with the current FactSet consensus of $2.22 billion. Among other highlights, Plug said it was partnering with Fortescue Future Industries to form a 50-50 joint venture to build a gigafactory in Australia, entered into an agreement to buy liquified hydrogen transportation company Cryo Technologies and confirmed plans to generate 500 tons per day of liquid green hydrogen by the end of 2025. The stock has run up 21.0% over the past three months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.90% has gained 1.1%.

US : U.S.: Nasdaq
$ 39.85
-1.77 -4.25%
Volume: 20.61M
Nov. 30, 2021 4:00p
P/E Ratio
Dividend Yield
Market Cap
$23.99 billion
Rev. per Employee
-88.27 -1.90%
Volume: 3.94B
Nov. 30, 2021 4:19p

This Story has 0 Comments
Be the first to comment
More News In

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.