Why Plug Power's Stock Is So Expensive

Nope. Neither political volatility nor a pandemic seem to be good enough reasons to break this market's stride and slow it down. Over the past year, the S&P 500 has soared 16%, consistently reaching new all-time highs to the delight of investors.

While some stocks have bounded higher for valid reasons, others now feature astronomical price tags due to investors overestimating the value of the stocks. Take Plug Power (NASDAQ: PLUG), for example, which has skyrocketed 1,590% over the past 12 months. One of the more familiar names associated with hydrogen and fuel cells, Plug Power has captured the imagination of both renewable energy and growth investors alike. But why? Let's take a closer look at what's behind the stock's recent meteoric rise.

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Source Fool.com