Is Plug Power Stock a Buy After Cratering 75%?
Plug Power (NASDAQ: PLUG) stock has gotten a lot cheaper recently, at least when it comes to its share price. In 2023, shares topped out at around $12. Today, the stock is valued at under $3.
Is this growth stock a buy after losing 75% of its value?
Plug Power's management team has lofty expectations for the business. In 2027, executives expect to generate $6 billion in revenue. By 2030, they believe the business could bring in around $30 billion in revenue. These are incredible estimates when you realize the current market cap for Plug Power is only $2 billion. If its 2030 revenue estimates are achieved, and shares trade at the same price-to-sales multiple as today, the company would be worth around $55 billion, producing massive upside for long-term shareholders.
Source Fool.com
