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Think Funny !
Think GSE's
Think MULAG
Yet another hydrogen product without a market.
WTM - Think Funny !
BMW has been talking Hydrogen for 20 Years !
And NOW they have just ONE concept vehicle ? No Productions models ? After 20 Years ?
BMW NOW Offers more the TEN EV's in FULL PRODUCTION.
BMW's Hydrogen efforts remind me of PLUG's hydrogen production efforts in Georgia ....
Years of Talk , but not much production.
If BMW can make a car that runs on FALSE PROMISES , PLUG will be their Number One supplier.
WTM - I don't like Bombastic Jim Cramer, and I don't know anyone who does.
Nevertheless, he has a large audience, and some people do listen to what he says:
https://finance.yahoo.com/news/jim-cramer-recommends-selling-10-204848341.html
I would have been more impressed if Cramer said, "SELL" at $60 or $50.
MORE BAD NEWS !
- No HUB Money until 2025.
- I am worried about the DOE Loan even happening
And Now This :
https://www.reuters.com/business/energy/us-hydrogen-tax-credit-rule-could-slip-into-2024-amid-debate-over-its-design-2023-11-16/#:~:text=Nov%2015%20(Reuters)%20%2D%20The,incentive%2C%20according%20to%20two%20sources
Here's a Fun Read :
“I think the only way you’d be able to PLUG in is if you think someone’s going to engineer a short squeeze here, and I’ve got to tell you, that is not a good reason to own a stock. Those numbers were terrible, I say stay away.”
https://finance.yahoo.com/news/jim-cramer-recommends-selling-10-204848341.html
WTM - Why ?
runner - PLUG demand came from Shorts covering Deep in the Money and intraday profit-taking.
Neither is a sign of Health.
MORE REALLY BAD NEWS !
Plug Power slides as Citi cuts, seeing 'narrow way out' of near-term problems
Plug Power (NASDAQ:PLUG) -7.1% in Thursday's trading as Citi downgraded the stock to Neutral from Buy with a $5 price target, slashed from $12.50, saying management's "subpar execution has led the company into liquidity challenges."
"Although there is a narrow way out of the near-term issues, margin of error is small," Citi's Vikram Bagri wrote, adding the 45V PTC clarification, which was a potential catalyst, is "now a much-needed lifeline, which could also pose insurmountable challenges if unfavorable."
The analyst estimated Plug (PLUG) will require $500M of cash over the next six months against line of sight to $930M in liquidity, and believes the company will need more cash by Q3 2024 at the latest.
Plug Power (PLUG) is poised as a leader of the nascent hydrogen economy with its vertical integration strategy and global partnerships, but Bagri believes margin expansion will take longer than expected to play out."
https://seekingalpha.com/news/4037857-plug-power-slides-as-citi-cuts-seeing-narrow-way-out-of-near-term-problems?mailingid=33394715&messageid=2900&serial=33394715.14056&utm_campaign=rta-stock-news&utm_content=link-3&utm_medium=email&utm_source=seeking_alpha&utm_term=33394715.14056
Atlanta - WMT , Citi , UBS ,
AND .....
Plug Power (PLUG) Stock Forecast & Price Targets :
Date Brokerage Action Rating Price Target Upside/Downside on Report Date:
Morgan Stanley reduced its PT from $9 to $3.50, maintained its “equal-weight” rating on PLUG.
11/10/2023 Susquehanna Lower Target Positive ->Positive $13.00 -> $9.00 +154.24%
11/10/2023 Truist Financial Lower Target Hold -> Hold $8.00 -> $6.00 +69.49%
11/10/2023 Jefferies Financial Group Reiterated Rating Buy -> Hold $6.00 +69.97%
11/10/2023 BMO Capital Markets Lower Target Market Perform -> Market Perform $8.00 -> $3.75 +9.01%
11/10/2023 Oppenheimer Downgrade Outperform -> Market Perform
11/10/2023 Northland Securities accuracy rating Downgrade Outperform -> Market Perform $7.00 +18.04%
11/10/2023 Royal Bank of Canada Downgrade Outperform -> Sector Perform $12.00 -> $5.00 -15.68%
11/10/2023 JPMorgan Chase & Co. Downgrade Overweight -> Neutral $10.00 -> $6.00 +1.18%
B_B - No Offense .
But I am going to believe Citi before I believe YOU.
Just look at your batting average ! Citi might be wrong, but Citi isn't as Wrong as You.
B_B - We All knew this was coming.
Downgrades , Lower estimates, the downward spiral has begun.
Citi isn't the last. Every responsible firm has a negative reaction to the Q-3 earnings, and with Q-4 half over, and STILL no Georgia and Tennessee , I think the Q-4 Earnings will be more of the same.
WTM - Gee. It sounds like "Hydrogen is easy".
More good news from DC ought to add to the PLUG rally again today.
It would be better if a PLUG event was the catalyst, but we take what we can get.
And Three Words for the Bulls:
1.) Dead Cat Bounce
2.) Pump and Dump
Steve - I share your concern.
How is it both you and I know that the next Q and EOY results will be misses, and Andy doesn't ?
He really is the Shorts best friend.
Unless Uncle Sam comes to our rescue in the next 45 days, Q-4 might be worse than last week's.
Personally, I can't wait to see how low tax loss selling takes us.
Steve - Insiders buying ? Funny !
However, more than 1.7 million shares were recently distributed to insiders by the company.
CPI could get us $0.30 or more today ... But remember ....
Every PLUG Rally fades within days to New Lows
News out of Washington will lift all pturds today.
Really old news about two plants which can't make commercial quantities of Hydrogen.
B_B - Good Call ... But your recovery was very short-lived.
My Error ?
My last check he was at a Florida Utility.
There goes my perfect batting average.
WTM - Gee. PLUG Missed their own deadline ? Of Less than 60 days ? By months ?
And don't forget, PLUG had already moved the Georgia Plant Goal Posts twice before.
The reason is : PLUG are a bunch of hydrogen Neophytes from Andy on down. They hadn't been in the Bulk Hydrogen before, but so what ? "we can just throw money at it".
After all, "Hydrogen is Easy !!!!!"
Let's put an Air conditioner Repairman in Charge ! What a bunch of Amateurs !
Punch Line : Steve Baker is No Longer at PLUG. I wonder who's running the show now ? I Nominate, Sanjay
Another interesting read:
https://www.barrons.com/articles/plug-power-stock-going-concern-56ccb629?siteid=yhoof2
WTM : A key take away :
"Managing cash flow until the hydrogen business achieves the scale needed to make money isn’t easy. Plug investors are finding that out."
Seeking Alpha's Quant system rates it Strong Sell.
Everyone is piling on ! Sharks feasting !
Someone let us all know when a positive estimate comes in, please.
Plug Power (PLUG) Stock Forecast & Price Targets :
Date Brokerage Action Rating Price Target Upside/Downside on Report Date:
Today : Morgan Stanley reduced its PT from $9 to $3.50 but maintained its “equal-weight” rating on PLUG.
11/10/2023 Susquehanna Lower Target Positive ->Positive $13.00 -> $9.00 +154.24%
11/10/2023 Truist Financial Lower Target Hold -> Hold $8.00 -> $6.00 +69.49%
11/10/2023 Jefferies Financial Group Reiterated Rating Buy -> Hold $6.00 +69.97%
11/10/2023 BMO Capital Markets Lower Target Market Perform -> Market Perform $8.00 -> $3.75 +9.01%
11/10/2023 Oppenheimer Downgrade Outperform -> Market Perform
11/10/2023 Northland Securities accuracy rating Downgrade Outperform -> Market Perform $7.00 +18.04%
11/10/2023 Royal Bank of Canada Downgrade Outperform -> Sector Perform $12.00 -> $5.00 -15.68%
11/10/2023 JPMorgan Chase & Co. Downgrade Overweight -> Neutral $10.00 -> $6.00 +1.18%
https://www.marketbeat.com/stocks/NASDAQ/PLUG/price-target/
Correction : A Multi-Year LOW !
B_B - Is that artist's concept from Popular Science (FICTION) or Popular Mechanics ?
Not in our Lifetimes Bob !
And I don't invest in a Science Fiction picture.
B_B - Unfortunately, nearly ALL of the media attention has been Very Negative and this trend will continue as well !
Downgrades, Lawsuits, Customer and Institutional Investors exiting.
Here is a GREAT Example of the Media Attention from WTM:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173204251
B_B - YIKES !
ALL Negative ? And MORE Downgrades coming ?
Is this the "Media Attention" you have been referring to ?
OUCH !
WTM - I have a problem with the USDOE giving US Taxpayer money to a French Company.
B_B - We will most likely see some green tomorrow after Friday's Bloodbath, but the PLUG Trend remains negative, and PLUG remains a poor investment.
This week we will see more Downgrades and Downward adjustments from analysts.
What I am watching for is Institutional selling, Lawsuits, the Gov't shutdown. These represent some very serious downward pressure on PLUG's share price, and could easily drive us BELOW $3.00's by year end.
Without positive news, PLUG will continue to fall into 2024.
WTM - You don't want to know !
And I suggest everyone listen to the call, critically, the way the analysts do. Pay particular attention to Paul's explanation of Restricted Cash and Inventory Carry.
As a CEO, if my CFO said that to me, he would be fired on the spot ! And this after HIS Accounting Fiasco !
It is clear to everyone that Paul either doesn't know either or can't explain it in intelligent terms. Lot's of double talk, that gives no comfort to analysts or investors.
He was also challenged when explaining other financials (was he Lying? Obfuscating ?).
As for the $1 billion in inventory? OUCH !
This is BAD NEWS and has been a millstone around our necks for more than one Quarter. Think; Unsold goods (why are they unsold?) sitting in storage, eating money instead of being revenue to the top line and profits to the bottom line. Have you ever heard of the poorly run auto companies who used to destroy unsold cars in inventory and take a write down ? .... Prepare yourself.
WTM - did you ever wonder how I can talk about technical issues in detail like hydrogen blending, as well as financial and management issues?
Thank You Veterans !
Every Day should be Veterans Day.
Who Recently Said :
"Your patience will be rewarded." ?
"The stock will be fine ." ?
"Profitability in the next Quarter" ?
Just like the DOWNGRADES on Tuesday the LAWSUITS will be following, and these will be Very Strong Lawsuits that I doubt PLUG could win.
Legal fees will be another drain on capital.
Paolo is correct, but it is much easier said than done.
First, it needs to be a blend, because pure hydrogen is much more difficult to handle than Nat Gas. So 10-20% might work.
Higher concentrations , and your kitchen range and water heaters will explode.
Hydrogen in a gas pipeline can't be used in fuel cells either because fuel cells need 99.999% pure hydrogen. Even with expensive gas separation technologies we can't get to those purities.
So yes, low ratios of hydrogen can be comingled in natural gas pipelines after some extensive retrofitting. We already know this works. As a ratepayer, I don't want to pay extra for something I don't need.
But here is the difficult issue. We know hydrogen works in many different applications, so would you really want to add expensive hydrogen into a gas pipeline and displace the cheaper natural gas ? The mix works, but the economics may not.
Sorta like , putting Premium Gasoline is an old Volkswagen ; sure it works, but it was just fine with regular gasoline at $1.00 cheaper
B_B - Ooops.
B_B - Lots of Downgrade and Lower Estimates today and more next week.
Analysts don't like being lied to either.
WTM - This is really BAD NEWS for PLUG !
First, how is it that a French company can have access to USDOE funding ? I would have thought that these monies were only for US companies .
Great news for Ballard , NEL, Bosch and Siemens !
And Air Liquide , " was chosen as a partner for six out of seven planned clean hydrogen hubs by the U.S. Department of Energy (DoE), which will allocate $7 billion for the projects within the bipartisan infrastructure law."
6 out of 7 ? That doesn't leave much for PLUG.
But no surprise, since Air Liquide has been doing hydrogen production successfully for 60 years, while PLUG looks like the gang that couldn't shoot straight and have been unsuccessfully producing bulk hydrogen for ZERO YEARS !
WTM - How can it get WORSE ?
Easy ! In the next few days there will be a rash of DOWNGRADES, Share Estimate Reductions, and FUNDS DUMPING because PLUG is a PENNY STOCK !
This will increase the downward pressure on PLUG's share price even more.
So by December 1, PLUG will be $3.00 OR LESS, and every shareholder will be in the RED. Trigger TAX LOSS SELLING.
TAX LOSS SELLING this year will be EPIC.
And the thing I like most about tax loss selling is even the LONGS want the share price to tank in order to maximize their losses. The rare time that shorts and longs are aligned.
WTM - Please note I have never mentioned Bankruptcy, and I am only discussing how things could get worse for shareholder in the short term. Bankruptcy opens an entirely new discussion, which no one at PLUG is prepared for.