Plug Power Will Survive. Does That Make the Hydrogen Stock a Buy?
Last fall, Plug Power (NASDAQ: PLUG) issued a dire warning. The hydrogen company projected at that time that it didn't have enough liquidity to fund its operations through the next year. That caused investors to worry that it might not be able to continue as a going concern.
However, those concerns are now in the rearview mirror. Plug Power has plugged the holes in its liquidity and how has the fuel to continue operating. Here's a look at whether that makes the hydrogen stock a buy.
Plug Power recently reported its fourth-quarter and full-year results for 2023. The company noted that it has now resolved the going concern issues it raised at the end of the third quarter. It has sufficient cash on hand and available liquidity to fund its operations for the foreseeable future.
Source Fool.com
