Plug Power Stock Jumps After Q1 Revenue Beat: Why the Hydrogen Turnaround Still Has a Cash Problem
Plug Power shares jumped 12.8% Monday and 6.3% premarket Tuesday after first-quarter revenue beat forecasts and operating loss narrowed to $109.5 million. Revenue rose 22% to $163.5 million, but net loss widened to $245.3 million due to non-cash charges. Short interest stood at 25%. Plug reported $223.2 million in unrestricted cash and expects $275 million from asset sales.