Plug Power Inc (PLUG)

[Jack_Bolander]

Hydrogen fundamentals are terrible and PLUG's are even worse.

There is still very little hydrogen infrastructure globally and nearly every project is delayed or cancelled.

And even with infrastructure, the economics are not as compelling as many alternatives, as on-road and stationary applications are discovering and proving.

The trend is a prolonged DOWN for most of the new players in the sector and only the major hydrogen incumbents are benefitting.

I don't see PLUG reversing the trend or breaking its hold with a $1.6 billion loan or the 45v. Those will both be positive bumps, but not game changers.