Is Plug Power Worth a Shot?
Plug Power (NASDA:PLUG) is an American company that has been a leading force in the development of hydrogen fuel cells. And that’s no small feat.
For those of you who are in the unknown, hydrogen fuel cells are an essential component for various devices. Most of which are often found in factories and warehouses.
A few examples include power sources for forklifts, backup power sources for entire buildings, replacement batteries for transportation units, among many others.
Nonetheless, some investors agree that Plug Power has some untapped potential, one that the company has consistently failed to unlock. These investors have now started to reconsider the value of the company as an investment.
In this article, we’ll go over the details, and figure out where Plug Power currently stands.
Out With the Old, in With the New
It goes without saying that “classic” fuel sources are slowly becoming a thing of the past. Nowadays, both companies and customers are aiming for alternative fuel sources. And guess what? Hydrogen fuel cells count as alternative fuel sources.
Not only that, but this new trend has a lot of ground to cover. From electric cars to the development of charging stations. Even the development of nitrogen fertilizers can be taken into consideration.
Plus, investors should realize that Plug Power has a lot of cash in its wallet. More specifically, up to $1 billion. Keep in mind, very few of its competitors have comparable amounts.
In the best case scenario, this money could be well spent on the company’s own investments.
Having said all this, Plug Power could reach the likes of $300 billion in revenue by 2030. Financial analyst company KeyBanc Capital Markets agrees with that.
In the end, it can be argued that fears related to this stock are only based on the company’s recent performance. But these same fears have yet to consider the long term. After doing so, it’s easy to agree that Plug Power has tremendous prospects for growth.
To simply put it, yes, this stock is worth a shot.