Trading Strategies For Plug Power Heading Into Q2 Earnings
Portfolio Pulse from Melanie Schaffer
Plug Power Inc (NASDAQ:PLUG) is set to release its Q2 earnings after the markets close on Wednesday. The stock was trading slightly lower ahead of the event. In Q1, the company reported a loss of 35 cents per share, missing the consensus estimate of a loss of 26 cents per share. However, it beat on revenues, posting $210.29 million. For Q2, analysts estimate a loss of 26 cents per share on revenues of $242.24 million. The stock's technical analysis looks bearish heading into the event.
August 09, 2023 | 7:15 pm
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Plug Power's Q2 earnings release could impact the stock's performance. The company's Q1 earnings miss led to a stock price drop, and the technical analysis looks bearish heading into the Q2 earnings release.
Plug Power's stock price dropped after the company missed Q1 earnings estimates. With a bearish technical analysis heading into the Q2 earnings release, there's potential for further price drops if the company doesn't meet expectations.
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