Buying Plug Power Taught Me a Costly Lesson
I first purchased shares of Plug Power (NASDAQ: PLUG) nearly four years ago, back in the spring of 2022. Plug Power seemed to have a lot of potential, and the company's $14-per-share price felt quite reasonable for a long-term investor at the time. As of market close on March 9, Plug Power is barely hovering above $2. My position in Plug Power is down an excruciating 76%.
I've always had a healthy risk appetite when it comes to high-risk green energy investments. I'm a believer and optimist that one day our world will run on clean forms of energy only. Also, like many before me, some good investments leading up to my purchase of Plug Power gave me an inflated sense of confidence and hubris that led to overlooking a few red flags.
Plug Power had an exciting narrative a few years ago. Government support, coupled with hype around green hydrogen, made the company look like the stock of the future. ESG and clean energy, in general, generated enormous enthusiasm in the first part of this decade.
Source Fool.com
