Plug Power (NASDAQ: PLUG) caused a stir among investors when it issued a “going concern” warning. Management has been working hard to reassure investors, and some recent updates caused the hydrogen stock to surge more than 40% in the last week of January.
All eyes have been on Plug Power’s earnings report, with investors hoping for more good news. The company seems to have succeeded, as Plug Power stock made a U-turn on Friday, jumping into the green after slumping more than 10% in early-morning trading.
Is this a sign to buy Plug Power stock?
Plug Power’s addresses going concern issue
Plug Power’s revenue rose 27% in 2023, but its total revenue of $891 million fell short of the company’s outlook of $1.2 billion issued late last year. Moreover, Plug Power’s net loss nearly doubled to $1.4 billion in 2023.
The highlight of the earnings report, however, wasn’t the numbers,…
2024-03-01 13:33:22
Post from finance.yahoo.com