Wednesday, April 9, 2014

Plug Power Auto Deal Being Announced On April 17th?

After revisiting Plug Power's recent earnings call, Andy Marsh scheduled a business update call for April 17th. Here are some things that will be discussed:

CEO Marsh will provide a list of milestones that investors should be looking for with regards to their current products that are in the R&D Phase. These include Range Extenders, Transportation Refrigeration Units (TRUs), and Ground Support Equipment vehicles.

Marsh will review where Plug Power currently stand with regards to orders and shipment numbers, and where they expect gross margins to stand as they increase the volume of their GenDrive sales.

Marsh will explain what opportunities Plug Power is currently seeking out to grow the material handling market faster than before.

April 17th also falls in the 2-3 week time frame that Andy mentioned with regards to the automobile announcement. Chances are the name may be announced then.

For now, this is a wait and see game. I expect Plug to trade sideways, if not down, for some time, with a possible run up into the April 17th business update. Stay tuned!

UPDATE: As many have pointe out to me, it looks like the Auto Deal will be announced by Plug Power BEFORE April 17th. With Good Friday on the 18th, and a conference call usually not being the venue of an official announcement, chances are Plug will announce their auto deal before April 17th, at the beginning of the week.