"Plug Power Stock Surges, CEO Warns Short-Sellers"

1 min read
Source: The Motley Fool
"Plug Power Stock Surges, CEO Warns Short-Sellers"
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TL;DR Summary

Plug Power stock surged 42% this week, driven by positive developments including a $1.6 billion loan from the Department of Energy, the start of operations at its green hydrogen plant in Georgia, and the shipment of its first trailer of liquid hydrogen to major customers like Amazon and Walmart. Analysts are optimistic about the company's future, with one doubling the stock's price target to $9 per share. CEO Andy Marsh indicated potential improvements in gross margins and hinted at alternative funding options, alleviating concerns about stock dilution. However, securing the DOE loan could still take several months, leaving Plug Power in need of additional funding to sustain its operations and plants.

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