This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Why Plug Power (PLUG) Is Soaring Today

Stock quotes in this article: PLUG, WMT, FDX

NEW YORK (TheStreet) -- Plug Power's  (PLUG) time has come. The hydrogen fuel cell maker, which has consistently lost money for years now, has found the market that will allow its product to push the company into the black.

There are currently over 6 million forklifts in use in warehouses around the world. Most forklifts currently run on battery power (battery power that uses electricity and takes time to charge). Hydrogen fuel cells provided by Plug on the other hand use no electricity and are fully charged in literally seconds, saving warehouses across the world both time and money.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

"We always knew we were going to be successful", said CEO Andy Marsh in a statement. "In 2014 we will make money."

Indeed, since January Plug's stock is up nearly 410%.

"Our units can dramatically improve the productivity of an organization", continued Marsh. Wal-Mart  (WMT) seems to agree as they have purchased 1,700 fuel cells from the company over a four-week period. Before making this commitment, Plug had to prove its value to the retailing giant in 3 warehouses over a period of a couple of years.

The company has also managed another successful program with FedEx  (FDX). Marsh insists that hydrogen fuel cells can be used in conjunction with current fuel systems to extend run time. In its run with FedEx, the fuel cells were attached to lithium battery-powered delivery vans and doubled the range of those vans from 80 miles to 160 miles.

Plug is also developing a recurring revenue model that goes further than selling units to customers. The company is investing in developing hydrogen power stations across the country. While there are currently only 14 power stations in the U.S., Plug is working on building 45 stations on its own.

Plug stock was up 24.4% to $7.91 as of midafternoon Friday.

Must Read: Warren Buffet's 10 Favorite Stocks

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,816.17 -226.73 -1.33%
S&P 500 1,948.55 -23.74 -1.20%
NASDAQ 4,425.1710 -68.2190 -1.52%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs