Why Plug Energy Popped In the present day

The inventory of Plug Energy (PLUG 6.41%), maker of hydrogen gasoline cells and the hydrogen to gasoline them, jumped 5.5% by way of 12:45 p.m. ET Tuesday after saying what was — truthfully — some fairly ho-hum information.

In a press launch out this morning, Plug confirmed plans to take part in a pair of imminent investor conferences.

What’s on Plug Energy’s to-do listing?

First, Plug mentioned its president and VP of investor relations would current at right this moment’s J.P. Morgan Power, Energy, Renewables & Mining Convention in New York Metropolis. At some point later, the corporate will ship CEO Andy Marsh throughout the pond to talk on the Roth fifteenth Annual London Convention.

Plug supplied no additional particulars on the contents of both deliberate presentation, though an investor would possibly surmise the corporate will proceed to hype its not too long ago introduced expanded partnership with Australia’s Allied Inexperienced Ammonia. The 2 corporations are working to arrange a 2-gigawatt (GW) hydrogen gasoline electrolyzer plant in Uzbekistan, extra to a separate 3-GW plant they need to construct in Australia.

Is Plug Energy inventory a purchase?

Neither of the Allied Inexperienced initiatives are actually off the bottom simply but. The Australian plant is closest to shifting from concept to truth, with a last funding resolution anticipated earlier than the top of this yr.

In the meantime, Plug’s nonetheless dropping greater than $2 billion per yr, and burning almost $950 million in money yearly. The corporate remains to be in search of shareholder approval of a plan to promote extra shares to boost money, and in Might needed to take out a brand new $525 million secured time period mortgage facility to roll over previous debt and supply money wanted to construct out its present initiatives.

Due to this fact, Plug inventory stays speculative, and I can’t advocate shopping for it.

Wealthy Smith has no place in any of the shares talked about. The Motley Idiot has no place in any of the shares talked about. The Motley Idiot has a disclosure coverage.