Is Plug Power Stock a Buy Now?
Plug Power (NASDAQ: PLUG) is a story stock. Shares of this hydrogen energy producer reached a price of $1,497.50 in the early 2000s. That, however, has to be taken with a grain of salt, because it reflects a 1-for-10 reverse stock split, meaning that the high price at the time was around $150 per share.
The current price of a share of Plug Power is roughly $2, which adjusted for the 1-for-10 reverse split, would put the price at just $0.20 compared to the $150 price just noted. Is it worth buying Plug Power after such a massive fall from grace? Let's find out.
Plug Power describes its business as "building an end-to-end green hydrogen ecosystem, from production, storage and delivery to energy generation, to help its customers meet their business goals and decarbonize the economy." To simplify that, the company makes hydrogen fuel cells, which turn hydrogen into energy and electrolyzers, which turn water into the hydrogen that is used in its fuel cells.
Source Fool.com
