Plug Power, Inc. (NASDAQ: PLUG) – Pre-Market Day Stock: Plug Power

When an issue has an extraordinary move in either direction on an earnings report, it is interesting to follow the price action just before the report and on the day of printing. With that said, Plug Power Inc (NASDAQ: PLUG) is the day’s pre-market readiness stock.

About plug power: Plug Power is an innovator of modern hydrogen and fuel cell technology. They aim to revolutionize the materials handling industry with their full-service GenKey solution, which is designed to increase productivity, lower operating costs, and reduce carbon footprint in a reliable and cost-effective manner.

The company’s GenKey solution combines the elements necessary to feed, feed and serve a customer. With proven hydrogen and fuel cell products, the company replaces lead-acid batteries to power industrial electric vehicles, such as forklifts that customers use in distribution centers.

Its ProGen modular fuel cell engine platform enables OEMs and system integrators to embrace hydrogen fuel cell technology.

High voltage rally: After ending 2019 at $ 3.16, Plug Power traded high in 11 of the next 13 months ending in January 2021.

It finally peaked in January at $ 75.49 and fell back to end the month at $ 63.17. On a closing basis during that time period, it had a 1,900% return.

Losing charge: Issuance reached its highest level since May 2004, when it peaked on January 26 at $ 75.49 before ending the session at $ 73.18.

The next day, the stock lost nearly $ 9, fell to $ 64.42, and rose again above $ 70 on a single occasion.

What ended the rally was a timely, bullish offering of 28 million shares at $ 65 a share.

Harnessing benefits ahead of Plug Power report: Plug Power was able to stay on the $ 60 handle until Feb. 16, when it faded from $ 63.19 to $ 59.

It failed to recover and fell to $ 37.22 on Tuesday as the overall market crashed. He was able to finish the session with a low of $ 46.46 and added almost $ 4 on Wednesday, ending the session at $ 50.16.

Plug Power Q4 Report, Price Action: Ahead of Thursday’s opening, the company reported a fourth-quarter earnings loss of $ 1.12 per share, far worse than a 6-cent loss a year ago.

Plug Power reaffirmed the gross billing guidance for 2021 of $ 475 million.

On the upside, Plug Power was unable to reach Wednesday’s close ($ 50.16), it only hit $ 48.75.

The stock ended Thursday’s session down 13.6% to $ 43.34.

A Plug Power hydrogen production plant. Photo courtesy.

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