Why Plug Power Stock Keeps Going Up

Core Viewpoint - Plug Power's stock experienced a significant increase, closing at $3.81 per share, marking a 60% gain for the week, with continued upward momentum observed [1][6]. Group 1: Analyst Insights - H.C. Wainwright analysts more than doubled their price target for Plug Power from $3 to $7 per share, which likely contributed to investor excitement [3][6]. - The potential for a short squeeze was also suggested by Wainwright, appealing to momentum traders in the current market environment [4][6]. Group 2: Financial Performance - Despite the recent stock surge, Plug Power has reported a loss of $2 billion over the past 12 months and has never been profitable in its 28-year history [7]. - Analysts project potential profitability by 2030, but past projections have not materialized, raising doubts about future profitability [7][8]. Group 3: Investment Considerations - The recommendation from H.C. Wainwright, while positive for Plug, indicated a preference for investments in nuclear power stocks over Plug Power, suggesting caution regarding the sustainability of Plug's momentum [5][6]. - The Motley Fool Stock Advisor identified ten stocks they believe are better investment opportunities than Plug Power, indicating a lack of confidence in Plug's future performance [9].