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Plug Power Inc. ($PLUG) Stock Forecast: Down 7.5% Today

Morpher AI identified a bearish signal. The stock price may continue to fall based on the momentum of the negative news.

What is Plug Power Inc.?

Plug Power (PLUG) is a company specializing in hydrogen fuel systems, aiming to replace traditional batteries powered by electricity. Today, the stock experienced a strong bearish movement in the market.

Why is Plug Power Inc. going down?

PLUG stock is down 7.5% on Jul 17, 2024 19:07

  • Despite Plug Power's recent approval for the HyVia acquisition, the stock faced a bearish trend today.
  • The positive news surrounding hydrogen stocks and renewable energy companies in the market did not seem to have a direct impact on PLUG's performance.
  • It is possible that investors reacted to broader market conditions or specific company factors, leading to the bearish movement in PLUG's stock price.
  • The partnership announcements and long-term potential in the hydrogen economy sector may not have translated into immediate gains for Plug Power, highlighting the importance of understanding market dynamics and company-specific developments for successful trading strategies.

PLUG Price Chart

PLUG News

Bloom Energy Stock Pops After Announcing AI Partnership with CoreWeave

Bloom Energy (NYSE:BE) stock is enjoying a strong day in the market so far, up more than 2% as of this writing after announcing a new deal with CoreWeave. What does this mean for Bloom Energy stock? Well, it’s certainly an encouraging development for the energy company. The partnership will see Bloom integrate proprietary fuel cells to generate power at CoreWeave’s Volo, Illinois high-performance data center. This will allow the firm to offer high performance cloud and artificial intelligence (AI) solutions. “We’re proud to partner with Bloom Energy and utilize their industry-leading solid oxide fuel cell technology,” said CoreWeave Chief Strategy Officer Brian Venturo. “This partnership will allow us to deliver unmatched performance and reliability to our customers while advancing our sustainability objectives.” Bloom is best-known for its solid oxide fuel cells used to provide clean, cost-effective energy. In this regard, the pairing with CoreWeave represents just the latest big name partnership to utilize Bloom’s fuel cell technology. “Bloom Energy is thrilled to have been selected by CoreWeave,” said Aman Joshi, Bloom Energy’s Chief Commercial Officer. “This validation from CoreWeave, a leader in AI, is a testament to our leading-edge technology and its importance to AI.” Per the deal, the fuel cell installation will begin in the third quarter of 2025.

https://investorplace.com/2024/07/bloom-energy-stock-pops-after-announcing-ai-partnership-with-coreweave/

News Article Image Bloom Energy Stock Pops After Announcing AI Partnership with CoreWeave

3 Hydrogen Stocks to Buy Now: Q3 Edition

Globally, there seems to be consensus on the point that countries need to achieve net zero emissions by 2050. This is critical from the perspective of slowing down global warming and tackling its consequences. Among the various plans, big investments in the hydrogen economy can support the decarbonization objective. Therefore, it goes without saying that hydrogen stocks are attractive not just for the next few years but a few decades. Some big and emerging companies have committed to invest significantly in boosting the global hydrogen economy. This column focuses on three hydrogen stocks to buy now for long-term value creation. These stocks represent companies committed to making some big investments in boosting green hydrogen production. In terms of the market potential, “nearly all hydrogen consumed today is grey hydrogen (approximately 90 million tons per annum).” However, by 2050, it’s expected that total hydrogen demand will be in the range of 125 to 585 Mtpa. Of this, clean hydrogen will account for 73% to 100% of total demand. Clearly, there is ample headroom for growth and value creation.

https://investorplace.com/2024/07/3-hydrogen-stocks-to-buy-now-q3-edition/

News Article Image 3 Hydrogen Stocks to Buy Now: Q3 Edition

3 Renewable Energy Stocks to Buy at 52-Week Lows in July

From transportation to manufacturing consumer products, energy is at the core of our lives. Within the energy market, renewable energy has grown rapidly as the global consciousness of climate change is increasing. Although the renewable energy sector has been down recently, this does not take away the fact that our society needs to move toward cleaner energy and away from traditional fuel sources like natural gas, oil and coal. This new renewable energy sector includes anything from hydrogen fuel systems to solar energy, and they are all still evolving in their applications. While buying stocks that are at their 52-week lows is risky, on the other hand, it could present a massive upside opportunity. Thus, it is important for investors to understand exactly why the stock is down before jumping into buying. For investors looking for cheap green energy, below are the three best renewable energy stocks to buy at an all-time low in July. Plug Power (PLUG) Source: T. Schneider / Shutterstock.com Plug Power (NASDAQ: PLUG ) specializes in hydrogen fuel systems which are used to replace traditional batteries powered by electricity.

https://investorplace.com/2024/07/3-renewable-energy-stocks-to-buy-at-52-week-lows-in-july/

News Article Image 3 Renewable Energy Stocks to Buy at 52-Week Lows in July

3 Moonshot Stocks That Could Turn $5,000 Into $25,000

This article is an excerpt from the InvestorPlace Digest newsletter. To get news like this delivered straight to your inbox, click here. In mid-2013, America moved into a “Goldilocks” economy phase, a time when growth finally became not too hot and not too cold. Unemployment from the 2007-08 financial crisis was receding, and the prior year’s corporate cost cutting was submitting to a more sustainable way forward. Perhaps most importantly, consumers were beginning to regain confidence as the financial crisis faded into the rearview mirror. “We have all this hot air in Washington,” David Blitzer, S&P Dow Jones Indices chairman, said in a CNBC interview at the time. “But the rest of the economy is growing reasonably well… And that’s probably what’s behind the stock market’s good track record.” In other words, things were good enough. 2024 is quickly becoming another “Goldilocks” period for the economy. On Thursday, CPI data showed that inflation decelerated to 3%, from 3.3% a month earlier. Analysts expect GDP to rise at 2% this year, up from previous estimates of 1.5%. And though industrial output is slightly weaker than expected, it’s easy to argue that we’re finally in another period when the economy is not too hot and not too cold. That’s great news because “Goldilocks” moments are phenomenal times for buying moonshot stocks. Shares of fast-growing companies like Meta Platforms (NASDAQ:META), Tesla (NASDAQ:TSLA), and Netflix (NASDAQ:NFLX) would more than double in 2013 – the last time we saw this “Goldilocks” phenomenon. Smaller firms like Canadian Solar (NASDAQ:CSIQ) rose as much as 750%. That’s because most moonshots need strong economies and permissive capital markets to survive. It’s no surprise that the 2012-14 period saw a bump in initial public offerings (IPOs) and a rash of venture capital (VC) activity. When you have big ideas, it helps to have big money to grow them into even bigger businesses. And the best of these startups can make early investors an enormous amount of profit. This week, our writers at InvestorPlace.com – our free news and analysis site – examine three of these moonshot stocks that they believe are at the cusp of the sorts of gains that could turn $5,000 into $25,000. Though some of these moonshots naturally might not survive (they are moonshots), the five-baggers that do could more than offset these losses.

https://investorplace.com/2024/07/3-moonshot-stocks-that-could-turn-5000-into-25000/

News Article Image 3 Moonshot Stocks That Could Turn $5,000 Into $25,000

PLUG Stock Alert: Plug Power Gets Approval for HyVia Acquisition

Plug Power (NASDAQ:PLUG) stock is on the move Monday after the hydrogen and fuel cell company got approval for its acquisition of HyVia. This approval comes from the EU and allows Plug Power to complete its join acquisition of HyVia alongside Renault (OTCMKTS:RNLSY). This will give them a 50-50 split ownership of HyVia. A big focus of this joint venture will have Plug Power and Renault focusing on the development of fuel cell technology and hydrogen fuel. This tech will use Renault’s platform and be used in fuel cell-powered light commercial vehicles (LCVs). The goal is to set up a vertically integrated manufacturing center in France. On top of that, the two want to create more hydrogen refueling locations across Europe, reports Seeking Alpha.

https://investorplace.com/2024/07/plug-stock-alert-plug-power-gets-approval-for-hyvia-acquisition/

News Article Image PLUG Stock Alert: Plug Power Gets Approval for HyVia Acquisition

Plug Power Inc. Price History

17.06.2024 - PLUG Stock was down 7.5%

  • Despite Plug Power's recent approval for the HyVia acquisition, the stock faced a bearish trend today.
  • The positive news surrounding hydrogen stocks and renewable energy companies in the market did not seem to have a direct impact on PLUG's performance.
  • It is possible that investors reacted to broader market conditions or specific company factors, leading to the bearish movement in PLUG's stock price.
  • The partnership announcements and long-term potential in the hydrogen economy sector may not have translated into immediate gains for Plug Power, highlighting the importance of understanding market dynamics and company-specific developments for successful trading strategies.

17.06.2024 - PLUG Stock was down 5.2%

  • The joint control approval of HyVia by Renault SA and Plug Power France under the European Merger Regulation likely sparked uncertainty among investors and led to the bearish movement for PLUG stock.
  • The collaboration with Renault to advance fuel cell technology and hydrogen fuel could have raised doubts about PLUG's future profitability and growth, impacting its stock negatively.
  • Market sentiment towards hydrogen stocks and renewable energy firms may have prompted investors to reconsider their positions in PLUG, influenced by broader industry trends.
  • With a shift towards cleaner energy sources in the market and changing dynamics in renewable energy stocks, investor preferences could have momentarily veered away from PLUG, causing the recent bearish movement.

16.06.2024 - PLUG Stock was up 10.8%

  • PLUG stock surged after receiving approval from the EU for its acquisition of HyVia, a joint venture with Renault focusing on fuel cell technology and hydrogen fuel development.
  • The approval paves the way for PLUG to establish a vertically integrated manufacturing center in France and expand hydrogen refueling locations across Europe, signaling growth opportunities.
  • The positive news of the approval likely boosted investor confidence in PLUG's future prospects within the renewable energy sector, contributing to the bullish market movement today.
  • The market's reaction reflects optimism towards PLUG's strategic partnerships and advancements in clean energy technology, aligning with the increasing global focus on sustainable energy solutions.

15.06.2024 - PLUG Stock was up 9.3%

  • PLUG stock surged post the approval for its acquisition of HyVia, indicating a promising future for its expansion into fuel cell technology and hydrogen fuel development.
  • The collaboration with Renault, emphasizing fuel cell-powered light commercial vehicles and the establishment of a manufacturing facility in France, has instilled confidence among investors.
  • The European Commission's approval has bolstered investor faith in PLUG's strategic partnerships and growth prospects in the hydrogen and fuel cell industry.
  • This positive development stood out amidst the broader market trend of tech stocks facing pressure, with investors turning towards small-cap stocks amid expectations of potential interest rate cuts by the Federal Reserve.

15.06.2024 - PLUG Stock was up 5.5%

  • PLUG stock experienced a bullish movement despite pressure in the tech sector.
  • The joint control approval of HyVia by Renault SA and Plug Power France by the European Commission likely boosted investor confidence in Plug Power's growth prospects.
  • Market rotation from large-cap to small-cap stocks, driven by expectations of potential interest rate cuts by the Federal Reserve, may have contributed to the positive sentiment around PLUG.
  • The certification of Vicinity Motor's electric truck by the California Air Resources Board could have also positively impacted the overall sentiment towards green energy companies like Plug Power, leading to the bullish movement.

12.06.2024 - PLUG Stock was up 8.5%

  • Plug Power stock surged 9% on July 11 and an additional 4% overnight, reaching over $3.04, driven by hopes of a Federal Reserve rate cut making its plans more affordable.
  • The overall optimism in the clean energy sector, with stocks like SunRun, Sunpower, and Enphase also rising, contributed to the bullish movement of Plug Power.
  • The Department of Energy's announcement of a $1.7 billion initiative to convert auto facilities to manufacture electric vehicles further boosted investor confidence in Plug Power and other EV-related stocks.
  • Despite some fluctuations, Plug Power's stock is currently trading higher, reflecting the positive market sentiment towards the company and the broader clean energy industry.

12.06.2024 - PLUG Stock was up 7.7%

  • PLUG stock surged by 9% on July 11 and an additional 4% overnight, pushing it past $3.04 per share. This growth was fueled by optimism surrounding potential Federal Reserve rate cuts, making the company's initiatives more feasible.
  • An announcement from the Department of Energy regarding a substantial fund totaling $1.7 billion aimed at repurposing auto facilities for electric vehicle manufacturing also played a role in boosting sentiment towards electric vehicle-related stocks, including PLUG.
  • Encouraging updates from other players in the hydrogen fuel industry, such as Nikola and Climate Impact Corporation, further bolstered investor confidence in PLUG and the wider clean energy field.
  • The uptrend in PLUG's stock value can be ascribed to a mix of favorable market conditions, positive industry shifts, and investor expectations of supportive government regulations, resulting in heightened demand and increased stock prices within the clean energy sector.

11.06.2024 - PLUG Stock was up 7.5%

  • Plug Power's bullish movement can be attributed to the positive sentiment surrounding EV-related stocks following recent CPI data.
  • The announcement of a $1.7 billion fund by the Department of Energy to convert auto facilities to manufacture electric vehicles has also boosted confidence in the sector.
  • The deployment of 95 MW of electrolyzer systems by Plug Power showcases the company's commitment to expanding its green hydrogen initiatives, further driving investor optimism.
  • Overall, the increasing demand for hydrogen fuel stocks, coupled with strategic partnerships and growing adoption of green hydrogen technologies, has contributed to Plug Power's upward trajectory today.

11.06.2024 - PLUG Stock was up 12.9%

  • Plug Power's stock surged today as the company announced the deployment of 95 MW of electrolyzer systems across multiple continents, showcasing its global expansion and commitment to green energy solutions.
  • The positive market movement can also be attributed to Plug Power's successful completion of 13 hydrogen refueling stations in Europe, highlighting the increasing demand for hydrogen infrastructure in the region.
  • The overall bullish sentiment towards hydrogen fuel stocks, fueled by developments such as Nikola's strong Q2 delivery data and Climate Impact Corporation's ambitious green hydrogen initiatives, likely contributed to the rise in Plug Power's stock price.
  • As the world shifts towards sustainable energy solutions, Plug Power's strategic advancements in hydrogen technology and refueling infrastructure position the company favorably for future growth and market dominance in the green energy sector.

09.06.2024 - PLUG Stock was down 5.9%

  • Despite Plug Power's expansion of electrolyzer capacity worldwide, the stock experienced a bearish movement.
  • The market may have reacted negatively possibly due to profit-taking after a recent uptrend in the stock price.
  • Investors might be concerned about the company's sustainability of growth or may be rotating out of high-flying technology stocks.
  • It's essential for investors to monitor Plug Power's future developments closely to assess if the recent dip presents a buying opportunity or a signal to reevaluate their investment thesis.

09.06.2024 - PLUG Stock was down 5.4%

  • PLUG stock saw significant bearish movement during the day.
  • Market sentiment concerning PLUG appears to be divided, with some experts recommending a buy-the-dip strategy while others remain wary.
  • The hydrogen sector, which includes PLUG, is currently facing uncertainty due to delays in regulatory changes impacting investor confidence.
  • The overall bearish trend in PLUG may be influenced by a broader market downturn affecting poorly-rated stocks and the cautious outlook on hydrogen stocks amidst regulatory challenges.

03.06.2024 - PLUG Stock was up 11.4%

  • PLUG stock showcased significant bullish movement recently.
  • The optimistic trend is linked to expectations of revisions to the 45V tax credit regulations under the current administration, which could favor hydrogen producers like Plug Power.
  • Criticism from certain U.S. Senators regarding the existing tax regulations and the overall positive outlook on hydrogen stocks are likely driving the upward trend of PLUG shares.
  • Investors are demonstrating trust in Plug Power's durability and growth prospects within the clean energy sector, leading to an increase in the stock price.

02.06.2024 - PLUG Stock was down 5.2%

  • PLUG stock experienced a strong bearish movement today.
  • The negative sentiment towards PLUG could be attributed to the company's history of never turning a profit in its 25 years of operation, despite recent positive news like a billion-dollar conditional loan guarantee.
  • The criticism from analysts and the lack of faith in PLUG's ability to generate meaningful business could have led investors to sell off their positions, contributing to the bearish movement.
  • The overall skepticism surrounding PLUG's financial performance and market sentiment may have outweighed any positive news or potential growth opportunities in the hydrogen industry, leading to the bearish trend in the stock price.
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Disclaimer
Morpher is not liable for the content of the AI investment insights. Like most GPT-powered tools, these summaries may contain AI hallucinations and inaccurate information. Morpher is not presenting you with any investment advice. All investments involve risk, and the past performance of a security, industry, sector, market, or financial product does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. These summaries do not constitute investment advice.