Now, listen closely, because this is a story about a company called Plug Power. For three days running, its shares have been bouncing about like overexcited grasshoppers. A most peculiar sight, indeed. It all started when they announced their earnings, you see. They weren’t making a tremendous amount, mind you – losing a mere six pennies per share – but they sold a goodly pile of things, two hundred and twenty-five million dollars’ worth, and that seemed to tickle the fancy of the stock-buying public. A twenty-three percent jump! Like a frog leaping for a particularly juicy fly.
The Other Reason for the Pop
But earnings weren’t the whole story. Oh no. A fellow named Michael Blum, an analyst at Wells Fargo – a rather important person, apparently – decided to wave a magic wand and increase his prediction of what Plug Power shares might be worth. He bumped it up by a third, to two dollars. Now, the shares were already creeping towards two dollars and fifty cents, so it wasn’t quite the astonishing gift he intended, but investors are easily pleased, aren’t they? It gave them an excuse to buy more, which is what matters, I suppose.
Blum pointed out that Plug Power had done a bit of financial juggling – swapping old debts for new ones. They claim this has stuffed their pockets with three hundred and sixty-eight-and-a-half million dollars in unrestricted cash. Enough, they say, to keep the lights on and the hydrogen bubbling until 2026. A bold claim, and one should always approach bold claims with a healthy dose of skepticism, wouldn’t you agree?
Is Plug Power a Good Thing to Buy?
Now, here’s where things get a bit…murky. Plug Power promises to be making a proper profit by the end of 2026. But Blum, that sensible fellow, suspects it’s more likely to be 2027. And to make matters worse, they’ve warned that their sales won’t grow as quickly as everyone expected – only thirteen percent. A rather disappointing revelation, wouldn’t you say?
So, while Blum has raised his prediction of what the shares might be worth, he’s still telling people to be cautious. He’s giving them an “equal weight” rating, which is a fancy way of saying “neither terribly exciting nor terribly dreadful.” I, however, am going even further. I suspect this whole affair is a bit of a swindle. A shimmering, bubbly swindle, perhaps, but a swindle nonetheless. I still think you’d be better off keeping your money tucked safely under your mattress.
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2026-03-05 00:15