The Simple Reason I Won't Buy Plug Power, Inc. Stock

There may not be a small-cap energy stock that's more polarizing than Plug Power Inc (NASDAQ: PLUG), the hydrogen fuel cell specialist with ambitious growth plans. The company is currently a supplier of fuel cells and hydrogen for warehouses and companies doing materials handling and winning major contracts with Wal-Mart Stores and Amazon, along with the hearts of a lot of investors.

Those two contracts have driven revenue growth for Plug Power, which the market has bought into at times. The one problem is that Plug Power doesn't have a record of making money or turning growth contracts into profitable growth. A history of failing to generate shareholder value is why I won't be buying Plug Power's stock.

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Source: Fool.com