Plug Power Fails Again: Time to Sell the Stock?
Plug Power (NASDAQ: PLUG) has been one of the most hyped hydrogen stocks. The stock shot up to dizzying heights in early 2021 after the company bagged some big contracts and, later in the year, set out 2025 goals of $3 billion in revenue and an operating margin of 17%. But it has struggled to execute.
Don't get me wrong: Except for 2021, Plug Power's revenue has risen steadily in recent years. The question is: Will it ever make a profit?
With the company manufacturing fuel cells for more than a couple of decades now, investors have waited far too long to see it convert that incremental revenue into profits. Unfortunately, that's where Plug Power has failed again and again, with its latest quarterly numbers, released yesterday, serving as another stark reminder. Take a look.
Source Fool.com
