Fuel cell pioneer Plug Power (NASDAQ:PLUG) seeks to function as an integral part of the hydrogen economy of the future. PLUG stock is a pure play in this niche market, and the company is well known among traders seeking to cash in on the clean-hydrogen, zero-emission fuel-cell economy.
It hasn’t always been an easy ride for PLUG stock holders. It’s no secret that the share price has declined sharply in the past. On the other hand, patient shareholders have enjoyed robust gains in 2020 so far, even amid a global pandemic.
Even in a solid year, though, PLUG shareholders have had to cope with wild bouts of volatility along the way. There’s been no shortage of news developments for Plug Power, but it’s often difficult to predict how the market will react in the short term.
The best approach is to consider whether Plug Power is going down the right path and position yourself accordingly. Recent developments, in my humble opinion, tend to indicate that the company is diligently and effectively preparing for a clean-energy economy.
A Closer Look at PLUG Stock
If you can’t handle sharp moves in both directions, then PLUG stock definitely isn’t your cup of tea. You’d be better off owning shares of a more established company with a bigger market capitalization.
Just the past couple of months should give you an idea of how wiggly and wobbly PLUG stock can be. In August and September, PLUG has been bouncing around between $11 and $14. It’s hard to tell who will win in the tug-of-war between the bulls and the bears.