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Can Plug Power’s 400% Move Higher Continue?

In early December, I focused on Plug Power (NASDAQ: PLUG  ) after one of the most optimistic management conference calls I'd tuned into in quite some time. Since then, shares of Plug Power jumped over 200%. I've previously mentioned my excitement over Plug (the company) and over the potential for hydrogen's use in transportation and refrigeration. However, my concerns still remain related to the leftover CO2 once hydrogen is actually split from natural gas. 

Hydrogen infrastructure is still a young, albeit promising, industry -- that's for sure. I'd like to see wider applications for using that leftover CO2 for enhanced oil recovery and more generation of hydrogen through renewable opportunities to produce electricity through solar and wind. For that reason the recent strength in shares of Plug Power may be a good opportunity to take some money off the table in this name and wait for a deeper pullback to add more shares. Also, while Plug recently announced a deal with FedEx (NYSE: FDX  ) that led to an additional 70% gain in its shares, it's worth noting that the company was expecting that deal to happen in 2014, so the news was not out of left field. I'm still a big fan of Plug and the stock could go higher, but longs may be hard pressed to pass up cashing in some chips in a name that was exchanging hands at $0.80 just last month. 

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Read/Post Comments (5) | Recommend This Article (3)

Comments from our Foolish Readers

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  • Report this Comment On January 09, 2014, at 11:06 AM, archsteve wrote:

    Is this a joke? You are telling me to take out my shares BEFORE the big business call on Tuesday when its a guarantee that more positive news will come out? You are losing credibility with me.

  • Report this Comment On January 09, 2014, at 11:15 AM, ICanFool wrote:

    cO2 extraction can be used to seperate carbon to build carbon nanotubes... Just google. New technologies on the horizon

  • Report this Comment On January 09, 2014, at 11:17 AM, ICanFool wrote:

    another cramerite.. brought in to help shorts. what a joke. Insult to all those making carbon nanotubes...

    Yes Toyota, Hyundai, and honda are going to kill people with CO2 . Laughable.

  • Report this Comment On January 09, 2014, at 11:30 AM, ICanFool wrote:

    PLUG POWER = 4-FOR-1 INVESTMENT offering investors Exponential Growth in 4 market segments, 1 fully operational (Forklifts) and 3 slated for deployment in H1-14.

    1. Walmart selects PLUG POWER for GenDrive Forklifts -- and orders are booked from several other Fortune 500 companies including Kroger, P&G, Mercedes & BMW. The current 23 customers (very large companies) have over 250,000 lead-acid battery forklifts ripe for conversion to H2 GenDrive Fuel Cells. Thus far, PLUG has converted 4,500 to H2 GenDrive Fuel Cells (1.8% of current-customer market). PLUG just delivered a “blowout quarter” with $32 Million in Orders Booked in Q4-13. And – PLUG has provided Forward Guidance of $32 Million or Higher for Q1-14 (This Qtr.)! During Q1-14, 2 more car manufacturers are expected to book orders with PLUG POWER – in addition to Mercedes & BMW. These assembly line manufacturers love the constant-speed (predictability) that PLUG’s H2 GenDrive Fuel Cells deliver.

    2. SYSCO selects PLUG POWER for Transport Refrigeration Units (TRU) -- This market has over 300,000 legacy units -- ripe for conversion to fuel cells (larger than the Forklift market). This market is slated for deployment in H1-14.

    3. FedEx selects PLUG POWER for Ground Support Equipment including Airport Tuggers, Conveyors, etc. There are 26,000 Airport Tuggers just domestically in the USA.

    4. D.O.E. selects PLUG POWER for Range Extenders for use with Smith Electric’s vehicles for 20 FedEx electric delivery vehicles. Initial estimates are that an 80-mile range electric vehicle will “double” its range to 160 miles! This new market includes: Parcel delivery trucks, taxis, post office trucks and port vehicles…and could morph into the HUGE TRANSPORTATION MARKET!

  • Report this Comment On January 09, 2014, at 4:34 PM, 1297US12 wrote:

    Someone at Fool deleted this article from My Watchlist this morning shortly after it appeared at 6:45 am. I think that if they had not removed the article that there would not have been such a big rust to sell PLUG stock. Makes me believe someone at Fool was shorting the stock and wanted it to go down, throwing members under the bus so they could make a nickel. SUCKS big time!!! Asked them why they deleted this article, no reply. Gary O

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John Licata

John Licata is the Founder & Chief Energy Strategist of Blue Phoenix Inc. You can follow John on Twitter @bluephoenixinc

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Related Tickers

9/1/2015 4:03 PM
FDX $148.03 Down -2.58 +0.00%
FedEx CAPS Rating: ****
PLUG $1.66 Down -0.05 +0.00%
Plug Power, Inc. CAPS Rating: *