why did plug stock drop in 2000

What was the price of plug stock in the 2000s?

Oct 12, 2000 · Year of the big stock drop. October 12, 2000: 5:56 a.m. ET. The largest market-cap drops show the Grim Reaper came for big caps in 2000. By Staff Writer Alex Frew McMillan.

What happens to plug stock when it collapses?

The all-time high Plug Power stock closing price was 1498.00 on March 10, 2000 . The Plug Power 52-week high stock price is 46.50 , which is 139.6% above the current share price. The Plug Power 52-week low stock price is 17.51 , which is 9.8% below the current share price. The average Plug Power stock price for the last 52 weeks is 28.24 . For more information on how our …

Is Plug Power’s stock back to breakeven after a 60% drop?

PLUG stock debuted on Wall Street in 1998 — in the early innings of the tech bubble- – at $120. By the peak of that bubble in 2000, shares were trading near $1,500. Today, the PLUG stock price ...

Should investors jump on Plug Power stock right now?

Jan 11, 2021 · After a huge increase of more than 60% last week, shares of Plug Power ( PLUG -3.31%) opened Monday down more than 11%. But the stock recovered from the initial drop and were back to breakeven as ...

What is the problem in Plug Power?

What happened to Fuel Cell Energy stock in 2000?

Is PLUG a good stock buy?

Should I sell or hold PLUG stock?

What are the top two fuel cell stocks?

Why did FuelCell energy stock drop?

Is PLUG a good long term investment?

Is PLUG stock expected to rise?

Will PLUG stock go back up?

Is Plug Power undervalued?

Is PLUG a buy Zacks?

Is Plug Power overvalued?

Today's move reflected some profit-taking after a recent surge in the shares

Howard grew up in Philadelphia watching the Philly sports teams struggle for championships. He has been investing since 1989 and been a Fool since 2001. Prior to joining The Fool as a contract writer in 2019, Howard worked in the steel business as an engineer for 28 years.

What happened

After a huge increase of more than 60% last week, shares of Plug Power ( NASDAQ:PLUG) opened Monday down more than 11%. But the stock recovered from the initial drop and were back to breakeven as of 11 a.m. EST.

So what

After strong gains over the past three months -- accelerating through last week -- investors took some profits in the hydrogen fuel cell company early this morning.

Now what

Several factors have been driving shares of the renewable energy company higher in recent months. Election results have investors moving into the sector expecting more federal focus and spending to continue developing hydrogen fuel cell technology and building out needed infrastructure.

What was the price of plug power in 2000?

And that's far from its high water mark. On March 10, 2000, shares of Plug Power closed at a whopping $1,498 per share -- and that was after hitting an intraday high of $1,510. 3. No -- not that Gigafactory.

When did plug power go public?

Two years after its founding in 1997 as a joint venture of DTE Energy Company and Mechanical Technology Incorporated, Plug Power hit the public markets and held its initial public offering on Oct. 29, 1999. Image source: Getty Images.

Where is Plug Power located?

Sen. Chuck Schumer of New York is keen on Plug Power, which is headquartered in Albany , choosing the Empire State as the location for the gigafactory. Articulating his enthusiasm for the project, Sen. Schumer stated on his website, "Plug Power is a great New York company, and I will do everything in my power to support Plug's expansion here in New York with the new job-creating gigafactory."

Is plug power hydrogen powered?

Yet the company has even loftier ambitions, setting its sights on the sky. In late September, Plug Power announced a partnership with Universal Hydrogen to explore hydrogen-powered flight. According to the company's press release, "Under this partnership, the companies plan to develop, build, and certify a commercially viable hydrogen fuel cell-based propulsion system designed to power commercial regional aircraft." Plug Power estimates that its fuel-cell technology can be used by "mid-sized regional turboprop aircraft" to fly routes up to 1,000 kilometers.

Is plug power profitable?

In terms of the bottom line, however, Plug Power has consistently failed to prove that its endeavors in the fuel cell market can be lucrative. So while investors may be enthralled with the celebrity that the company is enjoying of late, it's worth taking a step back and acknowledging Plug Power's persistent profitability problem. And while the company foresees significant growth over the next five years, there's no certainty that management's forecasts will be realized.

Is plug power stock supercharged?

Climbing more than 750% year to date, shares of Plug Power have been supercharged this year. That's not to say, however, that the stock's performance last year was anything short of impressive; shares ended 2019 155% higher than where they began.

Is plug power a growth investment?

Clearly, Plug Power has excited the enthusiasm of many a growth investor. And surely there are more investors considering Plug Power as a candidate to fill the "the next big thing" niche in their portfolios.

What financial trick did Plug Power use to sell its products?

To sell its products, Plug Power turned to a favorite financial trick of mine: operating leases.

How much did Plug raise in 2019?

As investor interest in electric vehicles and clean energy grew, so did Plug’s ability to convert its debt into equity. In 2019, the company raised $158 million from stock sales. And in 2020, the company raised another $205 million in a convertible senior note sale.

How many units did Plug's Gendrive sell?

Since its 2007 release, PLUG’s GenDrive has sold just 35,000 units across 2,800 systems. The terms weren’t that good either. To make its $70 million deal with Amazon in 2017, the company had to offer 19% of its shares as warrants to the e-commerce giant. Its $80 million Walmart sale went for 17% of its shares.

How much money did Rivian get from Amazon?

Take Rivian, for example. In 2019, the electric-van startup received $700 million in funding (that’s actual cash, not warrants) from Amazon and signed a deal for 100,000 units due for delivery between 2021 and 2024. Those are the deals that say, “I have a great product.”

How many shares does Andrew Marsh own?

Today, CEO Andrew Marsh holds just 198,680 shares in the company and sells his stock options as quickly as he’s awarded them. Other officers, including its corporate controller, general counsel, and chief strategy officer, hold either zero shares or so few shares that the number looks like a rounding error.

Will plug stock keep losing money?

In other words, no matter how large the company grows, it will keep losing money unless something big changes. So, before you even consider buying PLUG stock, here’s why insiders are selling out of this seemingly promising company.

Does plug have a balance sheet?

But the numbers on PLUG’s balance sheet don’t lie (or at least we hope they don’t, or else the company has an entirely different problem). When Plug creates an operating lease, its lenders require some form of collateral. Many leasing companies naturally use the underlying product (in Plug’s case, their hydrogen fuel cells). But the company also needs to set aside cash, known as “restricted cash,” on its balance sheet as additional collateral.

How much did the Dow rise in the 2000s?

From 1987 to 1995, the Dow rose each year by about 10%, but from 1995 to 2000, the Dow rose 15% a year. While the bear market began in 2000, by July and August 2002, the index had only dropped to the same level it would have achieved if the 10% annual growth rate followed during 1987–1995 had continued up to 2002.

What was the stock market's peak in 2000?

The International Monetary Fund had expressed concern about instability in United States stock markets in the months leading up to the sharp downturn. The technology-heavy NASDAQ stock market peaked on March 10, 2000, hitting an intra-day high of 5,132.52 and closing at 5,048.62.

How much did the Dow Jones lose in 2002?

As of September 24, 2002, the Dow Jones Industrial Average had lost 27% of the value it held on January 1, 2001: a total loss of 5 trillion dollars. The Dow Jones had already lost 9% of its peak value at the start of 2001, while the Nasdaq had lost 44%. At the March 2000 top, the sum in valuation of all NYSE -listed companies stood at $12.9 trillion, and the valuation sum of all NASDAQ -listed companies stood at $5.4 trillion, for a total market value of $18.3 trillion. The NASDAQ subsequently lost nearly 80% and the S&P 500 lost 50% to reach the October 2002 lows. The total market value of NYSE (7.2) and NASDAQ (1.8) companies at that time was only $9 trillion, for an overall market loss of $9.3 trillion.

How much did the NASDAQ lose in 2002?

The NASDAQ subsequently lost nearly 80% and the S&P 500 lost 50% to reach the October 2002 lows. The total market value of NYSE (7.2) and NASDAQ (1.8) companies at that time was only $9 trillion, for an overall market loss of $9.3 trillion.

When did the Dow drop to 9000?

After that, the Dow dropped to a four-year low on September 24, 2002, while the NASDAQ reached a 6-year low.

When did the Dow Jones Industrial Average peak?

The Dow Jones Industrial Average, a price-weighted average (adjusted for splits and dividends) of 30 large companies on the New York Stock Exchange, peaked on January 14, 2000 with an intra-day high of 11,750.28 and a closing price of 11,722.98.

What are some examples of internet companies going bankrupt?

The collapse of Enron is a prime example. Many internet companies ( Webvan, Exodus Communications, and Pets.com) went bankrupt. Others ( Amazon.com, eBay, and Yahoo!) went down dramatically in value, but remain in business to this day and have generally good long-term growth prospects.