Seasoned investors probably saw it coming. In the run up to Plug Power’s (PLUG) annual symposium held last Thursday (Oct 14), shares were on a tear boosted by a double whammy of successive analysts outlying the bullish case for the hydrogen specialist and the announcement of new positive developments. While the company’s event further pressed home the opportunity for the company in the nascent hydrogen economy, investors took the opportunity to offload shares in what looked like a classic case of “buy the rumor, sell the news.” In fact, following the symposium’s close, Oppenheimer’s Colin Rusch suggests that type of move completely misses the point.
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Plug Power (NASDAQ:PLUG)
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