Where Will Plug Power Be in 5 Years?
Plug Power (NASDAQ: PLUG) was one of the hottest IPOs of its time. The company started off as a developer of fuel cell systems for residential electricity generation. Erstwhile General Electric was an early investor, and the two companies also formed a joint venture in 1999.
Its collaboration with General Electric was one of the biggest selling points for Plug Power's initial public offering (IPO) in October 1999. Investors who bought the IPO weren't disappointed. It was the peak of the dot-com era, and Plug Power shares skyrocketed from a reverse split-adjusted IPO price of $150 per share to an all-time high closing price of $1,498 apiece on March 10, 2000 before subsequently crashing.
Today, Plug Power stock is trading below $3 per share. What happened?
Source Fool.com
