Plug Power (NASDAQ:PLUG) is a name rife with controversy. I am on record as to predicting profitability by the Q4 2016 report, and frankly, it’s a blown call. Time is simply ticking, and I am not sure that the company will get there even in 2017 now. However, it is doing what is necessary to ensure future growth.
I must say the company has truly turned the corner, but the reason the stock is battling to stay above $1 now is that investors want profitability. For some it is like a recurring nightmare of hope and failure.
The history of this stock is quite interesting. Bundles have been made and fortunes lost in this stock. But from an operational standpoint it is the healthiest it has ever been. I have to give the company that. The company has also just released preliminary 2016 numbers and 2017 guidance. What is going on here?
Well, first we already did learn that the company has indeed surpassed its annual guidance for deployment of GenDrive units for 2016. Guidance called for 3,800 to 4,000, but the company delivered 4,010 units in 2016. That is a plus. Many of these went to high-profile names like Home Depot (NYSE:HD), Wal-Mart (NYSE:WMT), BMW (OTCPK:BMWYY) and more, as discussed throughout 2016.
We also know that….READ MORE