Investing.com — Plug Power (NASDAQ:PLUG) jumped almost 9% after announcing a new fuel cell system.
The system isn’t actually new, and is simply an expansion of the technology and product line acquired through the company’s 2019 acquisition of EnergyOr, a Canadian fuel cell systems company, but this stock pops on any news
Shares are up more than 520% in the past 12 months to more than $13 a piece, but consider that 20 years ago, the stock was trading above $1,174. Plug Power has never made money. Revenue of $68 million in the most recent quarter was the highest in the past seven years.
In June, shares jumped 25% after the company raised its 2024 revenue target — four years from now — to $1.2 billion from $1 billion.
According to a Motley Fool article from 2016, in 1997, Plug Power had 9.5 million shares outstanding. In 2016, it had 180 million shares outstanding, and today it has more than 377 million shares outstanding. And that’s how the company remains in business, per the Motley Fool, by selling shares that never run out.
Analysts, however, generally recommend Plug Power. The stock has eight buy ratings, two holds and no sells.