Plug Power’s hydrogen dream is still stuck in neutral—shares hover under $3 despite promising tech and sales growth, but relentless shareholder dilution has erased gains. New management is cutting costs and pushing GenEco electrolyzers, yet posted a $245M loss with heavy non-cash charges. While hydrogen’s potential is real, the company’s financial fragility demands extreme caution: wait for proof of sustainable profitability before betting on the future.
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