April 6, 2017 / 2:32 PM / 7 months ago

BUZZ-Plug Power Inc: Reverses course on competition concerns

** Hydrogen fuel cell maker’s shares reverse course, fall as much 7.6 pct to $2.08 in heavy trading after market opening

** Shares are now down 4 pct at $2.16; PLUG’s shares were up 7.6 pct at $2.42 in premarket

** Under deal signed with Amazon.com Inc on Wednesday, co will subsidize Amazon’s product and service commitments by issuing up to 55.3 mln warrants to purchase PLUG common stock

** “We have concerns about PLUG subsidizing a relatively new customer while others have done the missionary work” - Roth Capital Partners

** PLUG’s existing customers could be expected to pursue other sources for forklift fuel cell systems such as Ballard Power Systems and Hydrogenics Corp ; Shares of BLDP were up 3.7 pct at $2.47 in morning trade

** More than 19 mln shares traded, nearly twice their 25-day moving avg.

** Up to Wednesday’s close of $2.25, stock had gained nearly 88 pct YTD

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below