2024-03-09 03:38:00 ET
Plug Power (NASDAQ: PLUG) reported 2023 earnings last week, and the news was not good.
Missing both sales and earnings estimates, Plug reported a loss of $2.30 per share for the year -- 40% worse than expected. Investors initially sold off the stock on this news, but then there was good news.
Citing plans to create and sell $1 billion-worth of new stock , and then secure a new $1.6 billion Department of Energy loan , Plug announced its " going concern " warning from last quarter had vanished and it now had all the liquidity it needed to remain in business for the foreseeable future.
For further details see:
Plug Power Stock Has 133% Upside, According to 1 Wall Street Firm