Don't let it get away!
Keep track of the stocks that matter to you.
Help yourself with the Fool's FREE and easy new watchlist service today.
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
So what: Plug Power will develop hydrogen fuel cell range extenders for 20 FedEx Express electric delivery trucks, which will about double their range to about 160 miles. The $3 million project is funded by the U.S. Department of Energy.
Now what: This is a big win but it also needs to be put in context. This is for only 20 vehicles and is a test program, not a huge order from FedEx. The $420 million market cap for Plug Power is awfully expensive for a company with just $24.5 million in revenue over the past year. I like the opportunity, but this stock is just too expensive to bet on right now.
Make your bets on high quality stocks
There are better bets than taking a shot in the dark on Plug Power. The Motley Fool's chief investment officer has selected his No. 1 stock for 2014, and it's one of those stocks that could make you rich. You can find out which stock it is in the special free report: "The Motley Fool's Top Stock for 2014." Just click here to access the report and find out the name of this under-the-radar company.