J.P. Morgan Says ‘Buy the Pullback’ in Plug Power Stock
Despite finishing on a high note, the past month has seen Plug
Power’s (PLUG) stock pullback significantly; the share price now
sits ~50% below the 12-month high reached toward the end of
January. While growth stocks have indeed taken a beating, the bear
case for Plug was exacerbated by poor Q4 earnings, with the company
alarming investors by reporting negative revenue for the quarter.
The negative top-line was due to warrants the company handed to
major customer Amazon back in 2017.