Plug Power Stock: Buy, Sell, or Hold?
Plug Power (NASDAQ: PLUG) was considered a promising play on the nascent hydrogen fuel cell market when it went public in 1999. But today, it trades nearly 99% below its initial public offering (IPO) price. Many of its investors retreated after the dot-com bubble burst in 2000; its growth cooled off; and it struggled with accounting issues from 2018 to 2020.
That was a devastating drawdown for Plug's long-term investors, but its stock now trades at just two times this year's sales. Let's review its business model and see if it's the right time to buy, sell, or hold this out-of-favor hydrogen stock.
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Source Fool.com
