Plug Power (NASDAQ:PLUG) stock experienced wide volatility in July. However, its recent drop suggests this may be an opportune time to buy the dip. Plug Power stock rose earlier in the month before falling 15% last Friday, July 19, bringing the 1-year losses to 80%. The recent crash occurred after the company announced plans to sell $200 million in additional shares, representing around 11% of Plug Power’s current market capitalization. However, its PLUG stock price has since found support at around $2.30. ...

Is this a buying opportunity for the stock of this hydrogen fuel cell producer?Shares of Plug Power (PLUG -13.87%) were sinking after the hydrogen fuel cell producer announced a secondary stock offering to help it raise cash. The downward move in the stock only added to its recent woes, with its price now plunging over 75% in the past year.Let's look at the energy company's secondary offering and why the timing of this announcement likely is not good for the stock.Plug Power needs to raise more cashPlug Pow ...

Core Viewpoint - Plug Power's stock price dropped significantly after the announcement of a surprise stock sale to raise cash, highlighting the company's ongoing financial struggles [1][2]. Group 1: Stock Sale Details - Plug Power announced the sale of over 78.7 million shares at $2.54 per share, aiming to raise $200 million in new capital [2]. - If demand allows, the company plans to sell an additional 11.8 million shares, potentially increasing total capital raised to approximately $230 million before costs [2]. Group 2: Financial Condition - The company is facing a cash crisis, with cash reserves reported at less than $173 million against $950 million in debt [2]. - Over the past 12 months, Plug Power has burned through $1.6 billion in cash, indicating severe liquidity issues [2]. Group 3: Cash Flow Concerns - Plug Power has never generated positive free cash flow since it began reporting in 1997, with analysts predicting it may not achieve this until 2028 [3]. - Even with the maximum potential from the stock offering, the $230 million raised would only cover less than two months of cash burn, necessitating further stock sales within four months to remain solvent [3].

Plug Power (NASDAQ:PLUG) is among the green energy companies experiencing significant selling pressure today as broader market forces work against growth stocks. In this afternoon’s session, PLUG stock has declined about 13% on the news that the company is looking to raise additional capital.The company announced that it expects to offer approximately 79 million shares to investors at a price of $2.54 per share. That’s significantly below yesterday’s close of $2.92. At the time of writing, PLUG stock is tra ...

Key TakeawaysPlug Power said it would offer roughly 79 million shares at a price of $2.54 each, which would generate gross proceeds of $200 million.The price was below Thursday's close, and the company's shares fell Friday. The company didn't specify a use for the proceeds. Plug Power (PLUG) stock tumbled after the company said it would sell more shares to the public, which it expects to generate $200 million in proceeds. The hydrogen fuel cell producer said it would sell nearly 79 million shares at $2.54 e ...

LATHAM, N.Y., July 19, 2024 (GLOBE NEWSWIRE) -- Plug Power Inc. ("Plug Power") (NASDAQ:PLUG), a global leader in comprehensive hydrogen solutions for the green hydrogen economy, today announced the pricing of its previously announced underwritten public offering of 78,740,157 shares of its common stock at a price to the public of $2.54 per share. The offering is expected to close on or about July 22, 2024, subject to market and other customary closing conditions. In connection with the offering, Plug Power ...

LATHAM, N.Y., July 19, 2024 (GLOBE NEWSWIRE) -- Plug Power Inc. (“Plug Power”) (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions for the green hydrogen economy, today announced the pricing of its previously announced underwritten public offering of 78,740,157 shares of its common stock at a price to the public of $2.54 per share. The offering is expected to close on or about July 22, 2024, subject to market and other customary closing conditions. In connection with the offering, Plug Power ...

LATHAM, N.Y., July 18, 2024 (GLOBE NEWSWIRE) -- Plug Power Inc. ("Plug Power") (NASDAQ:PLUG), a global leader in comprehensive hydrogen solutions for the green hydrogen economy, today announced that it has commenced an underwritten public offering of $200,000,000 of its common stock. In connection with the offering, Plug Power intends to grant the underwriters a 30-day option to purchase up to $30,000,000 of additional shares of common stock. Plug Power intends to use the net proceeds from the offering for ...

Energy Plug Announces Memorandum of Understanding with Power Touch Corp. to Provide Battery Energy Storage for Internet and AI Data CentresJuly 18, 2024 9:29 AM EDT | Source: Energy Plug Technologies Corp.Vancouver, British Columbia--(Newsfile Corp. - July 18, 2024) - Energy Plug Technologies Corp. (CSE: PLUG) (OTCQB: PLGGF) (FSE: 6GQ) ("Energy Plug" or the "Company"), an energy technology company dedicated to innovation and sustainability, today announces that it has entered into a Memorandum ...

Vancouver, British Columbia--(Newsfile Corp. - July 17, 2024) - Energy Plug Technologies Corp. (CSE: PLUG) (OTCQB: PLGGF) (FSE: 6GQ) ("Energy Plug" or the "Company"), an energy technology company dedicated to innovation and sustainability, is issuing this corporate update to highlight key activities and outline the Company's near-term objectives.Highlights: Initial Battery Energy Storage System ("BESS") Client: Energy Plug has signed its first battery storage deal with Ximen Mining Corp. on June 11, 2024 w ...