Hydrogen-Powered Investments Propel Plug Power Stock
Key Ideas
  • Plug Power stock surged 7.1% following news of BMW and Toyota's plans to mass-produce a hydrogen fuel cell car with Plug's liquid hydrogen.
  • While the partnership news is not entirely new, new details like the 2028 release date and BMW's commitment to hydrogen technology were highlighted.
  • Investors are optimistic about Plug's potential growth, although concerns about revenue and financial stability linger due to high debt and cash burn rate.
  • Stock Advisor recommends alternative stocks, but Plug's association with key players in the hydrogen-powered car industry continues to attract investor attention.
The stock market saw Plug Power (NASDAQ: PLUG) shares rise by 7.1% on Monday morning following announcements from BMW and Toyota about plans to mass-produce a hydrogen fuel cell car with assistance from Plug. Despite the positive market response, the news of the collaboration between the automakers and Plug had been reported earlier by Nikkei Asia. New details revealed include the 2028 release date for the fuel cell electric vehicle and BMW's dedication to incorporating hydrogen technology in their vehicle architecture. BMW's commitment to hydrogen technology is seen as a favorable development for Plug Power, which aims to be a leading producer of liquid hydrogen for hydrogen-powered vehicles. However, concerns exist regarding Plug's financial stability as it awaits revenue from hydrogen fuel sales to BMW owners, with a significant wait until 2028. Plug's financial situation, with high debt and cash burn rate, raises doubts about its long-term viability. Investors are advised to consider alternative investment options by Stock Advisor, despite the positive prospects of Plug Power's association with key players in the hydrogen-powered car industry. The article concludes with an outline of Stock Advisor's successful stock picks history, providing insights for potential investors looking for long-term growth opportunities.
ADVANCEH2

Our vision is to be the world's leading online platform for advancing the use of hydrogen as a critical piece needed to deliver net-zero initiatives and the promise of a clean H2 energy future.

© 2024 AdvanceH2, LLC. All rights reserved.