Plug Power's stock pulls back to snap long win streak after unveiling highlights of annual Symposium

1 week ago 10

In an evident lawsuit of bargain the rumor, merchantability the news, shares of Plug Power Inc. PLUG, -6.10% pulled backmost 4.4% successful greeting trading, putting them connected way to drawback a seven-day triumph streak, aft the aft the hydrogen and fuel-cell systems institution unveiled immoderate highlights of its much-anticipated yearly Symposium. The banal had soared 12.8% connected Wednesday, after a Morgan Stanley upgrade, and had soared 38% implicit the past 7 days. The institution said it present expects 2022 income of $825 cardinal to $850 million, which is supra the FactSet statement of $759.7 million. Plug besides established 2025 income guidance of $3 billion, which compares with the existent FactSet statement of $2.22 billion. Among different highlights, Plug said it was partnering with Fortescue Future Industries to signifier a 50-50 associated task to physique a gigafactory successful Australia, entered into an statement to bargain liquified hydrogen proscription institution Cryo Technologies and confirmed plans to make 500 tons per time of liquid greenish hydrogen by the extremity of 2025. The banal has tally up 21.0% implicit the past 3 months, portion the S&P 500 SPX, +1.41% has gained 1.1%.

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