Plug Power Shares Rise on Restructuring Plan, but Is It Enough to Save the Stock?
Shares of Plug Power (NASDAQ: PLUG) rallied after the company announced a new restructuring plan in conjunction with its fourth-quarter earnings report released on Monday, March 3. Nonetheless, the stock has still struggled, down about 16% year to date and more than 55% over the past year as of this writing.At this point, there are still questions about whether the company will survive or face going bankrupt. Let's take a closer look at its recent earnings and restructuring plan to see if the company has the potential to bounce back.Plug Power is working to become an end-to-end hydrogen solutions company. That said, its primary product is a fuel cell that is used in forklifts and other material-handling equipment. Fuel cell-powered forklifts are typically used in high-volume warehouses and distribution centers that run three shifts. As such, the company counts large retailers Amazon, Home Depot, and Walmart among its customers.Continue reading
Shares of Plug Power (NASDAQ: PLUG) rallied after the company announced a new restructuring plan in conjunction with its fourth-quarter earnings report released on Monday, March 3. Nonetheless, the stock has still struggled, down about 16% year to date and more than 55% over the past year as of this writing.
At this point, there are still questions about whether the company will survive or face going bankrupt. Let's take a closer look at its recent earnings and restructuring plan to see if the company has the potential to bounce back.
Plug Power is working to become an end-to-end hydrogen solutions company. That said, its primary product is a fuel cell that is used in forklifts and other material-handling equipment. Fuel cell-powered forklifts are typically used in high-volume warehouses and distribution centers that run three shifts. As such, the company counts large retailers Amazon, Home Depot, and Walmart among its customers.
