Plug Power Inc (PLUG)

[uksausage]

Didnt see this coming with the focus on cash, entering new markets was the last thing.
I assume this is following the work with the now closed Lightning and may be BAE Systems?

I wonder if it is a new Progen engine (more power, less space?) or the same as used by Hyvia?

Should at least keep the momentum going

[B_B!]

Plug to Revolutionize Middle-Mile Delivery with Class 6 Fuel Cell Electric Truck Integration
May 15, 2024

LATHAM, N.Y., May 15, 2024 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG), a global leader in hydrogen solutions for the green hydrogen economy, has announced its latest innovation: the integration of a Class 6, medium-duty fuel cell electric truck. The integration involves a commercial Class 6 chassis cab with an industry proven electric propulsion system powered by Plug’s cutting-edge ProGen fuel cell technology and seamlessly integrated with an industry proven electric propulsion system.

Fuel Cell Electric Vehicles (FCEVs) are powered by hydrogen and are more efficient than conventional internal combustion engine vehicles. Plug's ProGen technology generates no harmful tailpipe emissions, emitting only water vapor and warm air.

Designed specifically for middle-mile deliveries, this vehicle is engineered for unprecedented range benchmarks of up to 500 miles, a significant advantage compared to battery electric vehicles. This extended range not only enhances operational efficiency but also reduces the need for frequent downtime associated with battery recharging, resulting in saved time and resources.

Beyond its extended range tailored for optimal payload capacity crucial to middle-mile deliveries, this vehicle distinguishes itself from many other heavy-duty counterparts by not requiring a commercial driver's license (CDL) for operation, offering a more accessible solution for adoption in operations.

“Plug continues to lead charge in developing and deploying hydrogen fuel cell solutions for electric vehicle platforms," said Plug CEO Andy Marsh. “Our ProGen engine, built on decades of operational experience, offers unmatched benefits for middle-mile delivery—range, rapid fueling, cargo volume optimization, and higher power densities.”

The product is currently in its final integration and testing phase and is expected to commence on-road operational pilots this summer in collaboration with Plug’s key market leader logistics customers. This next phase will provide valuable real-world data and feedback, further optimizing the truck's performance for commercial deployment.

https://www.ir.plugpower.com/press-releases/news-details/2024/Plug-to-Revolutionize-Middle-Mile-Delivery-with-Class-6-Fuel-Cell-Electric-Truck-Integration/default.aspx

[B_B!]

What if the FED does not matter anymore?
The meme stock “army” is this time multiple (10/100/1000) times bigger than the first meme rally and attracting investors from all over the world.
Inflation, interest rate and the FED do not have any impact on the meme rally. The unstoppable rally itself is attracting the buyers.
Although the short side is better prepared/equipped (with regular freezes) compared to the first meme rally, the massive meme horde will overwhelm them.

[B_B!]

AMC, BlackBerry shares surge along with GameStop. Here's why meme stocks are back.
By Aimee Picchi Edited By Alain Sherter
May 14, 2024
.....
Once again, traders are posting about meme stocks on WallStreetBets, urging others to buy stakes in GameStop and additional meme favorites with the term YOLO, or "you only live once." Others posted screenshots of their gains from AMC, BlackBerry and additional stocks.

Other stocks that are getting a lift in the meme stock resurgence include:

SunPower Corp., a photovoltaic solar energy company, whose shares jumped 60% Tuesday
Plug Power, a company that makes hydrogen fuel cell systems, with a 19% gain
Virgin Galactic, Richard Branson's spaceflight company, up 22%
In the case of SunPower and Plug Power, the companies may also have drawn interest from traders due to President Joe Biden's announcement of new tariffs on Chinese EVs, solar cells and other products.
.....
https://www.cbsnews.com/news/amc-blackberry-gamestop-meme-stocks-roaring-kitty-wallstreetbets/

[Jack_Bolander]

Here's an Interesting Read :

https://seekingalpha.com/article/4693211-plug-power-consider-selling-the-rally?mailingid=35378893&messageid=2800&serial=35378893.1701&utm_campaign=rta-stock-article&utm_medium=email&utm_source=seeking_alpha&utm_term=35378893.1701

[WebSlinger]

It isn't how many shares are traded that makes a stock go up or down, it is whether people are hitting the ask (to buy the stock and make it go up) or hitting the bid (to sell the stock and make it go down).

For example, up until now, there have been about 61 million shares sold and 56.5 million shares bought.

[Tahoe2468]

How do you have over 170 million shares traded and it goes down from opening bell??? Uhhhhh oh well tomorrow is another day

[B_B!]

Plug Power has good news, but may also be caught up in meme mania
By Emily Bary 1 hour ago

Plug Power gave investors a positive update Tuesday on its financial trajectory, as it announced receipt of a $1.66 billion conditional commitment for a loan guarantee through the Department of Energy.

Its shares are rising 45% in Tuesday morning trading. "We believe lower cash burn and inventory drawdowns in 2024, combined with the disbursement of the DOE loan, will likely abate the majority of concerns associated with liquidity and scaling," Evercore ISI analyst James West wrote in a note to clients.

But the announcement wasn't entirely a surprise given that Plug Power said just last week that it was continuing to "advance the pending loan guarantee." Given the recent revival of the meme-stock trade and momentum in heavily shorted names, it's possible part of Plug Power's Tuesday rally reflects that dynamic.

Short interest represents more than 30% of the float for Plug Power, according to FactSet data. That's more than for AMC and GameStop, two high-profile meme plays.

https://www.marketwatch.com/livecoverage/gamestop-stock-surge-roaring-kitty-ignites-revenge-of-meme-stock/card/plug-power-has-good-news-but-may-also-be-caught-up-in-meme-mania-UBMIWjTkKyjl6D44svvn?mod=mw_quote_news

[bagwa-john]

Shorts are working hard today. Stupid. It'll make the squeeze even worse.

[Jack_Bolander]

WTM - Correct. And there are several other conditions, like SG&A , rent, etc, which are also not covered.

The DOE Loan if funded, is certainly a lifeline, but it is no guarantee that PLUG will succeed.

[harry crumb]

Buy an hold, 10x timing $$$$$$

[WeTheMarket]

As a follow up to my previous post, I have to admit that the official DOE Notice (link https://www.energy.gov/lpo/articles/lpo-announces-conditional-commitment-plug-power-produce-and-liquify-clean-hydrogen), has not indication that the funds apply retroactively.

[velcro]

This can be cancelled in a heart beat: "While this conditional commitment indicates DOE’s intent to finance the project, the company must satisfy certain technical, legal, environmental, and financial conditions before the Department enters into definitive financing documents and funds the loan guarantee."
November 5, 2024, Election Day will tell the tale.

[Jack_Bolander]

Official DOE Notice:

https://www.energy.gov/lpo/articles/lpo-announces-conditional-commitment-plug-power-produce-and-liquify-clean-hydrogen

[Jack_Bolander]

Tahoe - I Love Froth !

Let the good times roll.

[Tahoe2468]

Every drop it gets bought up LOOK AT THE VOLUME!!!

[WeTheMarket]

Steve, as I have mentioned in my previous post, my understanding is that there may be a retroactive component where Plug Power gets funds for money already spent. Following are the excerpts from the Q4/Full Year 2023 Earnings Call Transcripts (link https://www.fool.com/earnings/call-transcripts/2024/03/01/plug-power-plug-q4-2023-earnings-call-transcript/) related to this topic.

Craig Irwin -- ROTH MKM -- Analyst

Excellent. And then, this is a question that I'm not sure you can answer, but I'm going to try for it anyway. The -- it's top of mind for -- for a lot of people, right? So, this -- this DoE loan can fund up to 80% of -- of a project's costs. Can you maybe give us color or some sort of understanding as far as, you know, how close to this 80% number you think is rational for you to receive as far as total project costs? And then, there's conversation out there, not just about retroactive spending, but about scope maybe being slightly wider, that some of the expenses that have been incurred, as far as the development costs and other associated projects, might also see funding eligibility and some of these other loan packages.

You know, is that a potential opportunity for Plug, you know, as -- as you look to finalize terms with the Department of Energy?

Andy Marsh -- Chief Executive Officer

So, Craig, I'm going to let Paul take the first half and let Sanjay take some of the second half here.

Paul Middleton -- Chief Financial Officer

Yeah, I guess the -- the -- you know, I'm very confident and optimistic. And the reason why is because we've worked extensively with the DoE, you know, the last -- really the last year and a half. And, you know, we've looked at projects we've deployed, we've looked at projects that we're working on, we've used those as proxies to understand what we're doing and how we're doing it, and they serve as good baselines to -- to really have gotten to the point we're at with structuring it the way we have and thinking about how this will work. And so, I feel very good about that coming to fruition and being able to utilize the full 80% and -- and the understanding that we have with -- with the DoE of how these programs work and how the cost, you know, were sourced and how it applies. And so, I feel really good about that.

And, Sanjay, over to you.

Sanjay Shrestha -- Chief Strategy Officer

Yeah. And I think part of you kind of captured it, Craig. I think, look, we're obviously going through final details here. And as you rightfully pointed out, you know, probably don't want to get into too much more detail.

But having said that, there has been -- there's quite a bit of capital that have already been spent to get the project where it is right now. So, I think we feel pretty good about our position of how much money has been spent, whether it's on development effort, whether it's on all the big procurement items that actually goes in getting this project built, right? So, that scenario could unfold, you know, as you right as you pointed out here. But look, given that we're having all this in-depth discussion at this point in time, I think getting into too much more detail than that at this point in time is probably not something we would want to do. But understand your logic and get your point where you're coming from. And a lot of the money has been spent from our equity contribution perspective for that project in Texas, and we feel pretty good about our position there.

[glenn1919]

PLUG..................................https://stockcharts.com/h-sc/ui?s=PLUG&p=W&b=5&g=0&id=p86431144783

[harry crumb]

Expect a 5$ close or more, plug got its 3rd wheel, look out above folks $$$$!

[mikman77]

Uk...u still watching gevo?...haven't seen your post..lets go plug...give me 75 again

[B_B!]

Plug Power receives anticipated $1.6 billion loan guarantee from Department of Engery
May 14, 2024

U.S. Senate Majority Leader Charles E. Schumer today released the following statement on the U.S. Department of Energy announcing a conditional commitment to Plug Power for an up to $1.66 billion loan guarantee to supercharge American-led industry clean hydrogen production:

“This $1.6 billion federal investment will supercharge Plug’s world-class workforce across Upstate New York as Plug builds new facilities across the nation, all powered by the equipment made in New York. Green hydrogen has the potential to help us decarbonize some of the trickiest parts of our economy – from the industrial sector to marine shipping – and with the major federal investments through the Inflation Reduction Act I championed, Upstate NY is poised to lead the way in powering America’s clean energy future. From the electrolyzers made at Plug’s state-of-the-art Gigafactory in Henrietta, NY to the fuel cells manufactured at Plug’s Capital Region facility, this means new growth, new demand for Plug across Upstate NY. With federal investments like this we are unlocking the potential for green hydrogen to power America’s clean energy future, with Plug and Upstate NY leading the way.”

https://www.thebatavian.com/press-release/plug-power-receives-anticipated-16-billion-loan-guarantee-from-department-of-engery

[B_B!]

Plug 4.61 +1.72 (+59.52%)
Volume 28,769,966

[B_B!]

It does not matter how long this takes, Plug just needs to stay above $5, I think.

[scubastevemd]

I wonder how long all this garbage they toss in takes? While this conditional commitment represents a significant milestone and demonstrates the DOE’s intent to finance the project, certain technical, legal, environmental and financial conditions, including negotiation of definitive financing documents, must be satisfied before funding of the loan guarantee.

LPO works in support of President Biden’s ambitions to drive growth in US manufacturing and innovation, create jobs, and build a clean energy economy that will address climate change and make communities more resilient.

Plug’s projects under the loan will adhere to the Biden Administration’s Justice 40 Initiative. This process includes gathering input from local labor, workforce, and economic development organizations in addition to first responder and non-profit organizations. The plants are expected to create good-paying jobs accessible to a diverse talent supply and help develop workforce skills needed to drive the transition to a clean energy economy.

LPO’s Title 17 Clean Energy Financing Program, which supports innovative energy and supply chain projects and projects that reinvest in existing energy infrastructure, will provide the financing to Plug.

[scubastevemd]

So, what does this actually mean and when will we start receiving the money?

[glenn1919]

PLUG.......................https://stockcharts.com/h-sc/ui?s=PLUG&p=W&b=5&g=0&id=p86431144783

[B_B!]

Sorry, I do not know the details.
I think for now it's more important to join the meme stock rally and to reach/stay above $5.

[B_B!]

If Plug’s percentage gain today is close to AMC/GME’s gains, there is a possibility that meme investors think that Plug is among the top meme stocks 😎

[WeTheMarket]

BB, Awl416 and all, great news. Question, if I'm not mistaken, it's retroactive, so, any idea how many millions they'll receive for already completed work? If I remember correctly I've seen estimates of $100-200 million, but I don't remember the source.

[Jack_Bolander]

Congratulations for the Loan.

[B_B!]

Sorry Awl416, I did not see your post.

Plug Receives $1.66 Billion Conditional Commitment Loan Guarantee From Department of Energy for Green Hydrogen Development Pipeline
May 14, 2024
https://www.ir.plugpower.com/press-releases/news-details/2024/Plug-Receives-1.66-Billion-Conditional-Commitment-Loan-Guarantee-From-Department-of-Energy-for-Green-Hydrogen-Development-Pipeline/default.aspx

[B_B!]

Plug 3.54 +0.65 (+22.49%)
Volume 4,757,059

[Awl416]

Plug Receives $1.66 Billion Conditional Commitment Loan Guarantee From Department of Energy for Green Hydrogen Development Pipeline

[B_B!]

AMC raises $250 million in stock sale during meme rally, shares still up 110% in premarket
PUBLISHED TUE, MAY 14 2024 Yun Li
https://www.cnbc.com/2024/05/14/amc-raises-250-million-in-stock-sale-during-mondays-meme-rally.html

[B_B!]

‘A future made in Australia’: Albanese gov earmarks $4.4bn for hydrogen tax credits
By Edward Laity on May 14, 2024

The Australian Federal Budget has earmarked AUD $22.7bn ($15bn) over the next 10 years to support domestic manufacturing, with green hydrogen producers offered an AUD $6.7bn ($4.4bn) tax credit scheme.

Designed as an answer the US’ Inflation Reduction Act (IRA), the Hydrogen Production Tax Incentive will see AUD $6.7bn offered in tax credits to hydrogen producers per kilogramme based on the cost of production. This is expected to be introduced from 2027 to 2028.

In addition, a further AUD $1.3bn ($859m) has been added to allow for another round of the Hydrogen Headstart programme, designed to support “early movers to invest in the industry’s development.”

Under the “Future Made in Australia” package, AUD $1.7bn ($1.1bn) will be provided to promote Net Zero innovation, such as green metals and low carbon fuels, and AUD $32.2m ($21m) to fast-track the initial phase of the Guarantee of Origin scheme, focused on renewable hydrogen.

https://www.h2-view.com/story/a-future-made-in-australia-albanese-gov-earmarks-4-4bn-for-hydrogen-tax-credits/2110054.article/

[B_B!]

MARKETS
GameStop, AMC shares jump again in premarket as meme stock craze returns
PUBLISHED TUE, MAY 14 2024 Sam Meredith
https://www.cnbc.com/2024/05/14/gamestop-amc-shares-jump-another-40percent-in-premarket-trading-as-meme-stock-craze-returns.html

[B_B!]

May 13, 2024 Form4 Statement of Changes in Beneficial Ownership

Some of them already received free shares yesterday 😂
https://www.ir.plugpower.com/financials/sec-filings/default.aspx

[WeTheMarket]

BB, I'd add Andy buy shares as step 1.

[B_B!]

GameStop Trader 'Roaring Kitty' Sparks Wall Street Rally In Heavily Shorted Stocks: What You Need To Know Right Now
Benzinga 10h ago
.....
Several names with high short interest ripped higher in the wake of the GameStop rally.
Yes, a simple meme kicked off a buying frenzy in heavily shorted names.

Some of the biggest movers included retail darlings AMC Entertainment Holdings Inc (NYSE:AMC), Koss Corp (NASDAQ:KOSS), Tupperware Brands Corp (NYSE:TUP), VinFast Auto Ltd (NASDAQ:VFS) and BlackBerry Ltd (NYSE:BB) — the usual suspects.

Other big movers on Monday included Beyond Meat Inc (NASDAQ:BYND), Plug Power Inc (NASDAQ:PLUG), QuantumScape Corp (NYSE:QS), IRobot Corp (NASDAQ:IRBT) and Newegg Commerce Inc (NASDAQ:NEGG), among others.
.....
https://www.webull.com/news/10743029500227584

[B_B!]

It's not just GameStop. Other meme stocks climbed following social media posts from an account associated with Keith Gill, a.k.a. "Roaring Kitty," for the first time since 2021.

Stock Market News, May 13, 2024: Dow Ends Winning Streak Ahead of Inflation Data
Shares of GameStop surged as meme-stock mania resurfaced
13 mei 2024
Meme Stocks Jump Alongside GameStop After 'Roaring Kitty' Post
By Hannah Miao
It's not just GameStop. Other meme stocks climbed following social media posts from an account associated with Keith Gill, a.k.a. "Roaring Kitty," for the first time since 2021.

Take a look at some meme-stock favorites that made moves Monday:

- Hertz Global Holdings: 12%
- Chewy: 4.3%
- AMC Entertainment: 78%
- Plug Power: 13%
.....
https://www.wsj.com/livecoverage/stock-market-today-dow-jones-05-13-2024/card/meme-stocks-jump-alongside-gamestop-after-roaring-kitty-post-RXYnRkPns36WhfVViaD3?siteid=yhoof2

[B_B!]

It’s un-American, even inhumane to short Plug Power, an American hydrogen pioneer, the biggest in the world.

This is from a Plug critic:
“I would love to see this company turning around, Tyler, that would be great for humanity. You and I both have young kids, right? It would be incredible to see something like what Plug Power is doing in terms of how it can be beneficial for the world, really take off right? It would be great.”
(Time: 10:42/11:24)
Plug Power's Annual Update: What You Need to Know Now
By Jason Hall and Tyler Crowe – Jan 28, 2024
https://www.fool.com/investing/2024/01/28/plug-powers-annual-update-what-you-need-to-know-no/

[B_B!]

If I were Andy Marsh:
1) Positive press releases during this meme stock rally will accelerate the rally even more.
2) Use ATM when the stock price is above $10. This dilution will support the stock price instead of crashing it.
Turn the ATM curse into a blessing.

[B_B!]

GameStop, AMC Entertainment Meme Surge May Trigger Short-Squeeze Buying
Watch These Key Levels in Both Stocks
By TIMOTHY SMITH Published May 13, 2024
…..
Monday’s rally—reportedly triggered by key meme online persona "Roaring Kitty" making his first post on X in three years—caused losses nearing $1 billion for GameStop short sellers, according to data from S3 Partners cited by CNBC. That could fuel further gains in the days ahead driven by a short squeeze, an event where investors rush to cover their positions, putting additional upward pressure on prices.
…..
https://www.investopedia.com/gamestop-amc-meme-surge-may-trigger-short-squeeze-buying-8647950

[Garyedward71]

Have you heard of the 6 stroke ic engine, they are between 45% and 50% thermal efficiency. There is a major drawback of using hydrogen and hydrogen rich fuels. 500 Modern busses emit about the same Nox as 2 1960's era busses. Nixon formed the EPA to put the reforms needed to create these massive 250 fold reductions in Nox emissions. The bottom line is hydrogen and hydrogen rich fuel such as Gevo's isobutanol burn hotter which react with No2 to produce Nox (acid rain or smog)when used in ic engines. This issue seems to have been sweeped under the rug.

[uksausage]

I will try to find the source about Amazon, but they talked about AI being used to map the routes for BEV that would maximize availability allowing them to recharge overnight. they have 12000 or more high capacity chargers installed already in the various distribution centers.

GIven Amazons current algorithms anything more than a few hours away will be on a 2 day delivery time allowing them to shuttle the delivery across different vehicles reducing the number of long haul trips they do. Plus they use a lot for drayage on imports on both coasts

Hoping we hear about the 2 new large MH customers - it should be about time for Target to choose (7 years after they continued with recharging batteries)

need to hear about large stationary installations to keep momentum going while he administration gets things sorted out.

[scubastevemd]

Was the EV for short haul and long haul? Seems to me long haul, once there was fueling stations in place would be a good bet to go with a FC truck like what Nikola has. I wonder if they are waiting on a direct combustion hydrogen engine. The longer 45v and the DOE drag on the worse our chances look. I am doubting either of these happen in our favor once Trump gets in office. I'm thinking he may just gut the whole IRA and let the energy companies fight it out like before. With the head start and then Covid things worked in our favor, but since then new technologies and old ones getting better are cheaper competition and we have lost some advantage. If things don't get moving and soon, I fear for Plugs future and my chances of ever seeing my money.

[Jack_Bolander]

Banger / ruke - A 15% move on NO NEWS ? This is a definite PUMP.

I'm happy to see that you have at least two legitimate companies in your portfolio. Hopefully PLUG won't wipe out all of your other gains.

And PLUG will NOT be "supplying the power to their chargers in grid stretched geographies.".

Amazon is doing serious economic studies on Alt Fuels, and aside from forklifts, Hydrogen is NOT fairing very well.

[ruke]

What was the pump today if I may ask?

[uksausage]

I agree with you Jack (and I actually have LIN in my portfolio along with Cummins but not APD!)
I am puzzled about what pump you think is going on with PLUG today though, could it be riding the meme stock wave like in 2020/21?
I was expecting a drop given the Amazon news about their adoption of BEV not FCEV long distance trucks for now, although we could be supplyingthe power to their chargers in grid stretched geographies.

[Jack_Bolander]

Banger - If LINDE, Air Liquide and Air Products all lost their hydrogen businesses it wouldn't cause much of an upset in their share price, since H2 makes up only a small component of their overall portfolios.

The same thing can't be said about PLUG. Without H2 , I don't think that PLUG can be profitable, whereas the Big 3 have already proven that they know how to make money.

If fact, my beloved LINDE's dividend is worth more than PLUG shares.

And ruke : - PLUG is a PUMP & DUMP Stock. Today is the PUMP. An surely a DUMP will follow.

Every PLUG rally fades within Days.