Plug Power (NASDAQ:PLUG) continues to draw very diverse investors, some who are ardent bulls, and others who see this company going the way of the dinosaurs. I have covered the name in many different pieces. Recently, we covered how the name reeked of controversy. I am on record as to predicting profitability by the Q4 2016 report, and frankly, when the company pre-announced some initial results along with 2017 expectations, I knew this was a blown call. Simply put, I was wrong.
Now I could go on and defend my call based on the trajectory of the company a year ago. I could say it was impossible to predict the spending to expand the business. I won’t do that. I will say simply that I was wrong. Not only was I wrong about the company getting to profitability, but the name also isn’t even near breakeven. I suppose I could stomach being wrong and the company was losing a penny or two per share. At least that is close. But with time ticking on the name, we have watched the stock pull back heavily and will be lucky to stay above $1. Given the moves made by the company to expand and recent guidance discussed, I am not sure that the company will get there even in 2017 now. However, it is doing..……..READ MORE