Plug Power: Is Strong Growth The New Normal?May 09, 2022
Energy is one of the biggest concerns as inflation continues to stay high. Oil and Natural Gas prices are still heavily inflated thanks to supply chain issues and an ongoing war in Eastern Europe.
Naturally, this is pushing the market to seek out alternative energy plays that can help America build a new energy infrastructure and help Europe break away from its dependence on Russian oil.
So now is a solid time to revisit our coverage of Plug Power ($PLUG).
We've been covering Plug Power since September 2020 and we've been really excited about the company's growth potential and it's provided a HUGE amount of upside for our early audience.
But fast forward to November 2021, and our last price target came right before valuations for growth stocks got crushed by initial concerns over rising inflation + rates.
But for PLUG though, the last 5 months have been a brilliant period of growth. PLUG has announced MASSIVE new partnerships, broken ground on new plants all over the world, and shown that they are poised to be a GIGANTIC presence in green energy for the next decade.
We highlighted one major area of their partnerships pushes in a recent video. Check that out here:
PLUG is looking unstoppable, even in this wild era of market volatility. Will the stock be volialte for some time? Yes. But over the long run, we believe PLUG is poised to be big winners in the space.
Therefore, let's adjust our old price target to reflect this new normal for growth stocks!
Let's get into it 👇