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Plug Power's Massive Challenge In 2024

Plug Power's problem isn't growth, it's having enough money to fund growth in 2024.

By Travis Hoium – Jan 2, 2024 at 7:15AM EST

Growth stocks overall had a great recovery year in 2023, but that wasn't the case for Plug Power (PLUG +4.95%). Shares struggled as losses mounted and the company itself questioned if it would survive without more funding.

In this video, Travis Hoium highlights the challenge for Plug Power and explains why this may not be a good place for your money in 2024.

*Stock prices used were end-of-day prices of Dec. 28, 2023. The video was published on Dec. 31, 2023.

Read Next

About the Author

Travis Hoium
Travis Hoium is a contributing Motley Fool stock market analyst covering solar energy, technology, and growth stocks. Before The Motley Fool, Travis was a mechanical engineer at 3M and founded a virtual reality company. He holds a bachelor’s degree in mechanical engineering and a master’s degree in business administration from the University of Minnesota.
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John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Travis Hoium has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon and Walmart. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.

Stocks Mentioned

Plug Power Stock Quote
Plug Power
NASDAQ: PLUG
$2.23
(+4.95%)+$0.11
Walmart Stock Quote
Walmart
NASDAQ: WMT
$123.49
(-1.30%)-$1.63
Amazon Stock Quote
Amazon
NASDAQ: AMZN
$212.65
(-0.78%)-$1.68

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

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