PLUG produces Fuel Cells, for which there is no affordable fuel
The last 3-year trend and the long-term 10-year trend have now broken ~FALLING KNIFE~ style.
PLUG has been a poster child for hydrogen. It may be most prominently known for providing fuel cell delivery vehicles to Amazon.
There are several issues PLUG faces. To name a few:
We may bounce around, but I would NOT be surpassed if we get into ~$2.00 - $2.50 / share territory by the end of 2024.
PLUG has been a poster child for hydrogen. It may be most prominently known for providing fuel cell delivery vehicles to Amazon.
There are several issues PLUG faces. To name a few:
- There are not enough electrolyzers to produce green hydrogen
- The price of green hydrogen has gone from ~112/KG to over ~330/KG in 2-years
- PLUG's use of cash is wildly irresponsible (exaggerated by now high interest rates)
- Hydrogen simply isn't the best solution for transit applications beyond distributed or 24-hour applications
We may bounce around, but I would NOT be surpassed if we get into ~$2.00 - $2.50 / share territory by the end of 2024.
Note
Prior support is now confirmed resistance. Let's see if we continue to bounce around and maybe find support down at $1.80?
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