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Retail stock holders are the suckers Steve while all these scoundrels make merry with investors money.
Bunch of rascals.
Steve
As per the PR, the two plants with 25 tpd cover 50% of Plug’s requirement of green hydrogen.
Steve. Ever since their new Marketing head has joined them, I have not seen her play any role.
Has hardly made any difference.
WTM - I guess the rationale could be that this helps them ramp up revenue quickly through sale of Electrolyzers as well as Green Hydrogen albeit at the cost of giving up on the monopoly.
An either or option would slow down revenue growth.
My bad Steve. It was Gross Margins of $50 to $140 Mn.
Steve - they did speak about the Data Center opportunity as a significant one, though they did not mention MSFT specifically.
Also, if I am not mistaken, Andy hopes to be +ve this year. Some of the application opportunities mentioned are huge.
Hopelessly manipulated market. Has nothing to do with the potential that Plug is addressing. Just sad.
I heard the entire presentation. Nothing but positives including improving gross margins and +ve earnings.
They have highlighted so many opportunities that the actual figures could or should be far more than declared.
http://archive.fast-edgar.com/20230614/ANBZHQ2C8Z22TZZ222ZG2ZZZLMAPZ2Z23V56/tm2318675d1_ex99-1.htm
Plug has released the presentation to be made today. A lot of info in this presentation. Try the link above.
Have announced a couple of orders this morning including a new pedestal in Europe.
The fact that they could con us for so long is a success. The failure is on our part. ????
JB - are you being sarcastic or serious??
So disgusting to see this fall below $10 and nothing substantial forthcoming from the management.
My biggest regret in life will be not selling at $60 plus.
Simply shitty management doling out false hopes and promises forever.
Agree. Clearly looks like manipulation
I hope so Steve. Wonder whether the 4% dip this morning had anything to do with this after a +ve pre market. The CPI news would have had some impact no doubt.
What is this crap about a class action law suit against Plug & it’s directors?? News on TD Ameritrade
Fortunately it says that it is an expansion of an existing relationship. The SK group's investment in Plug is almost 3 times more.
Some Institutional sell off I hear. There is always a reason. Just so dumb on my part not to cash out at $65+.
If it reaches $100 a share, I will cash out. ??
My problem is I expected it to touch that magic number after the high of $71 in Jan 21. I should have sold a few of my shares at $65 or more. In fact I ended up buying some shares at $65.
The fall thereafter has been frustrating.
Okay. That explains it but still Andy needs to explain this to the retail share holders before making an announcement of this nature.
Not many are knowledgeable about the details.
Andy has no intention of making a Tesla or an Amazon out of Plug Power, when he very well can.
He will probably make ton loads of money for himself and sell of cheap to an Amazon or some major oil company. Leave the shareholders like us sucking our thumbs.
Exactly what I said in my reply to UK. Where is the need to double the share capital now.
As expected the market sees this news negatively
UK
Pardon my understanding. Their shares outstanding are around 560 million and the authorized capital is 750 million. How did you come up with the 30m figure. Am I missing something?
They have the $5 bn on the books and about 200 mn authorized shares to issue if required. Where is the need to raise this number now.
Where is the need to double the authorized share capital. This gives me a reason to worry. Will the market see it negatively.
Trust Andy to screw up every time the stock price is poised for growth.
Very well expressed thoughts Peter.
In reply to my recent mail to Investor Relations, I am given to understand that Plug will announce the 1st qtr report date only after their financials are restated.
I am also extremely disappointed with the drop in market cap of Plug from it's high in Jan '21
Wow! Unfair the way this market is manipulated.
Despite the BAE news the price fluctuation this morning is ridiculous. I think without the financials restated and out of the way, this is going nowhere.
Just hope Andy does not have some shockers in the store for us.
Frustrating to say the least.
Reply from Plug Power to my mail
Shailesh,
Thank you for your email, and your interest in Plug Power. We are cautiously optimistic this will be concluded prior to our Q1 earnings release, so in that perspective we are hopeful weeks and not months away.
I do want to add there are certain windows and dates, i.e. 10b-5 trading plans, when insiders and management are able to sell, so stock price isn't a factor of when such an insider/management member can sell. During this time while our 10-K is being reviewed by KPMG the company, insiders, management is blacked out from Buying, Selling, and or exercising options on Plug Power.
PLUG power also is not immune to the pullback and pressure in speculative/growth and the cleantech sector i.e. ARKK FSLR SPWR BE BLDP FCEL TSLA etc.
Of course nothing is final until its completed.
I do want to reiterate what the current situation, of our delayed 10-K, will not effect:
These changes will not affect:
. Revenue
. Cash position
. Business operations
. Our commercial arrangements
. Our guidance that we laid out in the Jan 26th update.
KPMG has been our independent accountants for close to 25 years, and while they have determined our prior Financial Statements need to be restated, they are related to several non-cash items, relating to lease accounting as rule 842 came into effect in 2019 such as:
. book value of right of use assets and write down of financial obligations
. Loss accruals for certain service contracts
. impairment of certain long-lived assets
. classification of certain costs, resulting in a decrease in R&D search and expense and a corresponding increase in cost of revenue.
Our core material handling clients do business with Plug Power through either Direct Purchase, or with Sale-Leaseback agreements which hence involve operating leases.
Our accounting as a result can be complex and technical due to the nature of our business. These changes aren't being made due to override of controls or misconduct, and KPMG had informed the Audit Committee that these issues are not related to an override of controls or misconduct.
Plug Power, at the highest levels, is focused on the tremendous opportunities and business propositions at hand. At the highest levels, Plug Power is also sensitive to the situation and the dynamics as a result and is working with KPMG around the clock to rectify and complete this process in order to release our 10-K as quickly as possible.
I hope this is helpful, we thank you for your support, and wish you and your family stay safe - Roberto
Roberto Friedlander
Director Investor Relations
PLUG POWER | 968 Albany Shaker Road | Latham, NY 12110
M 516-768-5775 W plugpower.com
-----Original Message-----
From: Shailesh Bhosale <bhosalesb@gmail.com>
Sent: Thursday, April 15, 2021 10:28 AM
To: Investor Relations <Investor_Relations@plugpower.com>
Subject: Falling Stock price
I have been a long term stock holder of Plug Power and have been invested in Plug over the last 9 years.
The current downtrend in the stock price and the confusion prevailing in the market about the financials being reposted has been unnerving.
While senior board members merrily sold shares at its peak, we the common shareholders have been left in the lurch just watching the stock price fall everyday. There has been no statement from the management to clarify its position or to assuage the fears of the loyal shareholders.
I feel cheated by the turn of events and the lack of any statement from Plug.
Please clarify.
Shailesh
Sent from my iPad
Unless Plug publishes and clarifies all doubts on the amended financials, the SP is not going anywhere.
All these sundry announcements take it nowhere except for an initial spike. Andy needs to announce a major business deal in terms of an order. Not another partnership with no revenue visibility.
Frustrating- this drop from 75 to 32 dollars.
Agree with you on one aspect and that is Andy sold his shares at a whopping $65. Also the shares which Plug issued at $65
Jack
It is about marketing and building the brand Plug Power, which indirectly will help shareholders. No one wants her to address shareholder concerns but Plug does need to market itself more efficiently.
They hired the new CMO from Bloom but haven’t heard anything from her ever since she has come on board.
Wonder whether she has any strategy of her own or if she is just a puppet.
With so many lining up to investigate or file a lawsuit against Plug, is not prudent for Plug to issue some clarification for the benefit of its shareholders or is their lack of a response by purpose.
I agree with your view. I firmly believe in the potential that Plug has and have been a long term holder now through thick and thin.
Yet I feel that Plug had no business to be where it is today after such a stellar year and with such a promising market potential. This stock should have been soaring past $65 by now.
They also seem to be doing all the right things for securing their future but they do falter when it comes to managing shareholder expectations.
They just made a passing mention of the warrants cost but one did not get a sense of how badly the end results would get twisted. These adjustments seem to be a routine with Plug. Just when one is expecting a block buster quarter, Plug will drop a bombshell of this kind.
And mind you Andy conveniently had sold of his stock options at a cool $65.
I think Plug messed up this call and Andy was out of his elements.
If they had anticipated such a massive adjustment against revenue and earnings they should have prepped the market well. Further by advancing the call date, Plug had raised expectations and thus they should have had a lot more new stuff to announce as what they discussed was already known to the market.
They should have something explosive to disclose in order to smother the impact of the adjusted financials. I would say it was poor planning on their side.
Of course Barclays doesn’t like hydrogen, they are the biggest fossil fuel bank in Europe.
“Barclays most exposed bank in Europe to US shale oil crisis”
https://www.telegraph.co.uk/business/2020/05/04/barclays-exposed-bank-europe-us-shale-oil-crisis/
????Here is a post from Yahoo board. Apparently they are pissed off cause Plug did not sign up any agreement with China through them.
https://m.thefly.com/#/new-landing/3258203
Not sure whether this link will help.
Isn’t it ridiculous. Either they are right or the dozen odd other analysts of repute are right.
Someone has to question this game and pull up the ones who are gaming the stock but that is wishful thinking I guess.
I find it so ridiculous that with all other analysts raising Plug stock price to above 60 or 65, Barclays comes out with this crazy rating of Plug and raises PT from $21 to $29.
Feel sad that they can still impact market thinking and hold Plug down.