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Plug Power Stock Has 133% Upside, According to 1 Wall Street Firm

TheMotleyFool

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Plug Power (NASDAQ: PLUG) reported 2023 earnings last week, and the news was not good.

Missing both sales and earnings estimates, Plug reported a loss of $2.30 per share for the year -- 40% worse than expected. Investors initially sold off the stock on this news, but then there was good news.

Citing plans to create and sell $1 billion-worth of new stock, and then secure a new $1.6 billion Department of Energy loan, Plug announced its "going concern" warning from last quarter had vanished and it now had all the liquidity it needed to remain in business for the foreseeable future.

Source Fool.com

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