This Day On The Street
Continue to site right-arrow
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Is Plug Power the Next Fuel-Cell Goldmine or Just a Hole in the Ground?: Stock Twits

NEW YORK (TheStreet) -- Plug Power (PLUG - Get Report) took the electricity out of portfolios Wednesday.

The stock dropped 21% after Plug CEO Andy Marsh told Bloomberg BusinessWeek that, contrary to reports, no new deals were in the pipeline. The stock had gained 49% Tuesday after MarketWatch reported that Plug would announce a new deal in the next two to three weeks. Some investors had speculated that Plug would announce a deal with Volkswagen (VLKAY). But Volkswagen denied the rumors.

(PLUG - Get Report) and the roller coaster heads back down. Might buy 6.20's and hope for another 7 retest later on. -- Joseph (@Fuji31) Mar. 26 at 11:50 AM

Marsh told Bloomberg that the coming deal, initially referred to in a MarketWatch article and re-reported by business television networks, was the same one discussed on March 13 when the company announced fourth quarter and full year earnings.

During Plug's earnings call, Marsh had said that sales orders for 2014 already exceeded $60 million. He also said that the company received sales and maintenance orders from Kroger (KR), BMW and Mercedes-Benz (DDAIF). And he discussed the well-publicized deal with Wal-Mart (WMT) to roll out its GenDrive hydrogen cells to power electric lift trucks at the retailer's North American distribution centers.

Many cashtaggers blamed the media confusion on Marsh wanting to announce tentative agreements in the pipeline that are not ready for an official press release. They are buying Marsh's promise of hydrogen fuel cells entering a rapid growth cycle.

Plug sentiment remained 89% bullish, despite Wednesday's decline, according to StockTwits' analytics.

(PLUG - Get Report) Everyone is jumping the gun and trying to twist Andy's words. Soon as the deal is officially announced, everything will be fine. -- Cagle (@jcctex) Mar. 26 at 11:27 AM

Others disagreed. They said they had come to view the PLUG as little more than a "casino stock" as pegged by Andrew Left, a short seller and author of investment newsletter Citron Research. Left argues that Plug will not be profitable this year, as promised by CEO Andy Marsh, and that the stock's fair value is $0.50.

(PLUG - Get Report) all of you that are still holding this are delusional. Might as well go buy lottery -- Jack Lai (@misenlai) Mar. 26 at 11:33 AM

Some formerly long cashtaggers even said they were selling out of positions and buying puts.

(PLUG - Get Report) out half position on puts from yesterday eod. +100% -- Kevin Kim (@KK_KK) Mar. 26 at 11:34 AM

(PLUG - Get Report) Increased revenues will not put them in the black.. . get it thru ur thick skulls. Negative margins need to be improved -- Nads (@Longtrader) Mar. 26 at 11:43 AM

At the time of publication, the author held no positions in any of the stocks mentioned.

This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!
PLUG $2.59 -3.36%
AAPL $124.43 -1.54%
FB $82.22 -1.18%
GOOG $548.00 -0.73%
TSLA $188.77 -0.94%


DOW 17,776.12 -200.19 -1.11%
S&P 500 2,067.89 -18.35 -0.88%
NASDAQ 4,900.8850 -46.5560 -0.94%

Partners Compare Online Brokers

Free Reports

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