8/18/2023 0 Comments Plug power investor day![]() PLUG's Valuation Is More Well-Balanced But Not Undervalued Notwithstanding, we urge investors to avoid pulling the buy trigger at this point until the market presents us with more clarity that it intends to hold the current levels.Īs a result, we reiterate our Hold rating for now. Therefore, we expect a consolidation phase/short-term rally at the current levels to help stanch further downside pressure. We postulate that PLUG is likely at a near-term bottom. Furthermore, there's significant resistance at the $32 level, which should continue to impede PLUG's buying momentum. However, we have yet to glean a sustainable basing price structure akin to the lows in June (when we upgraded PLUG to a Buy ). Our analysis suggests that PLUG's valuation is more well-balanced now. Therefore, by the time the Act was passed, the near-term upside had already been reflected. We emphasized that the market had already anticipated the successful passage of the IRA, given its price action in July. Therefore, we would like to remind investors to be wary about joining such momentum spikes, which we highlighted in our previous article. Despite the slew of Wall Street analysts' upgrades following its Q2 earnings release, PLUG has collapsed nearly 35% from its August highs.Ĭonsequently, the market has digested all its gains in August, as it drew investors in rapidly following the passage of the Inflation Reduction Act (IRA). ( NASDAQ: PLUG) has continued to underperform the broad market since our previous Hold rating, urging investors to be cautious. Prior results do not guarantee a similar outcome.Vanit Janthra/iStock via Getty Images Thesis An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.įollow us for updates on LinkedIn:, on Twitter: or on Facebook. You may also remain an absent class member and do nothing at this point. Until a class is certified, you are not represented by counsel unless you retain one. ![]() ![]() toll-free at 86 or email or for information on the class action. To join the Plug Power class action, go to or call Phillip Kim, Esq. When the true details entered the market, the lawsuit claims that investors suffered damages. As a result, defendants' statements about Plug Power's business, operations, prospects, and ability to effectively manage its supply chain and production lacked a reasonable basis. Specifically, defendants misrepresented and/or failed to disclose that Plug was unable to effectively manage its supply chain and product manufacturing, resulting in reduced revenues and margins, increased inventory levels, and several large deals being delayed until at least 2023, among other issues. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.ĭETAILS OF THE CASE: The lawsuit alleges that, throughout the Class Period, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts, about Plug's business and operations. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. In 2019 alone the firm secured over $438 million for investors. ![]() The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to serve as lead plaintiff, you must move the Court no later than June 12, 2023. A class action lawsuit has already been filed. WHAT TO DO NEXT: To join the Plug Power class action, go to or call Phillip Kim, Esq. SO WHAT: If you purchased Plug Power common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. (NASDAQ: PLUG) between Augand March 1, 2023, both dates inclusive (the "Class Period") of the important Jlead plaintiff deadline. May 26, 2023) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of Plug Power Inc.
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