Is Plug Power the Next Fuel-Cell Goldmine or Just a Hole in the Ground?: Stock Twits
NEW YORK ( TheStreet) -- Plug Power
The stock dropped 21% after Plug CEO Andy Marsh told Bloomberg BusinessWeek that, contrary to reports, no new deals were in the pipeline. The stock had gained 49% Tuesday after MarketWatch reported that Plug would announce a new deal in the next two to three weeks. Some investors had speculated that Plug would announce a deal with Volkswagen
-- Joseph (@Fuji31) Mar. 26 at 11:50 AM
and the roller coaster heads back down. Might buy 6.20's and hope for another 7 retest later on.
Marsh told Bloomberg that the coming deal, initially referred to in a MarketWatch article and re-reported by business television networks, was the same one discussed on March 13 when the company announced fourth quarter and full year earnings.
During Plug's earnings call, Marsh had said that sales orders for 2014 already exceeded $60 million. He also said that the company received sales and maintenance orders from Kroger
Many cashtaggers blamed the media confusion on Marsh wanting to announce tentative agreements in the pipeline that are not ready for an official press release. They are buying Marsh's promise of hydrogen fuel cells entering a rapid growth cycle.
Plug sentiment remained 89% bullish, despite Wednesday's decline, according to StockTwits' analytics.
-- Cagle (@jcctex) Mar. 26 at 11:27 AM
Everyone is jumping the gun and trying to twist Andy's words. Soon as the deal is officially announced, everything will be fine.
Others disagreed. They said they had come to view the PLUG as little more than a "casino stock" as pegged by Andrew Left , a short seller and author of investment newsletter Citron Research . Left argues that Plug will not be profitable this year, as promised by CEO Andy Marsh, and that the stock's fair value is $0.50.
-- Jack Lai (@misenlai) Mar. 26 at 11:33 AM
all of you that are still holding this are delusional. Might as well go buy lottery
Some formerly long cashtaggers even said they were selling out of positions and buying puts.
-- Kevin Kim (@KK_KK) Mar. 26 at 11:34 AM
out half position on puts from yesterday eod. +100%
-- Nads (@Longtrader) Mar. 26 at 11:43 AM
Increased revenues will not put them in the black.. . get it thru ur thick skulls. Negative margins need to be improved