Webull Financial LLC is a member of SIPC, which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). Webull Financial LLC is a member of the Financial Industry Regulatory Authority ( FINRA), Securities Investor Protection Corporation ( SIPC), The New York Stock Exchange ( NYSE), NASDAQ and Cboe EDGX Exchange, Inc ( CBOE EDGX). Securities trading is offered to self-directed customers by Webull Financial LLC, a broker dealer registered with the Securities and Exchange Commission (SEC). It serves the North American and European material handling markets. Its products include GenDrive, GenFuel, GenCare, GenSure, GenKey, ProGen, Electrolyzers, Liquefaction Systems and Cryogenic Equipment.

It focuses on industrial mobility applications, including electric forklifts and electric industrial vehicles, at multi-shift high volume manufacturing and high throughput distribution sites and environmental benefits stationary power systems that supports critical operations, such as data centers, microgrids and generation facilities, in either a backup power or continuous power role and replace batteries, diesel generators or the grid for telecommunication logistics, transportation, and utility customers and production of hydrogen. The Company provide electrolyzers that allow customers, such as refineries, producers of chemicals, steel, fertilizer and commercial refueling stations, to generate hydrogen on-site.

is a provider of hydrogen fuel cell turnkey solutions. In this light, RBC Capital Markets analyst Chris Dendrions estimated Plug may need $750 million in additional funding to refresh its liquidity over the next 12 months.Plug Power Inc. This refers to an accounting term that signals “a substantial doubt the company can continue to conduct its normal business operations in the foreseeable future without having to liquidate a portion of its assets and/or restructure its obligations,” said accounting expert Robert Willens. As such, Plug issued a “going concern” warning in the Q3 release.

This is in addition to the inflationary pressures the company faced.Īnd while Plug expects supply constraints to ease in the final weeks of 2023, the most pressing concern is its dire need for fresh funding. The Latham, New York maker of hydrogen fuel cell systems said it faced “unprecedented supply challenges,” which led to hydrogen shortages. However, it’s not the concerning Q4 outlook that caused the stock price crash. The latest quarterly report leaves around $500 million in sales for Plug to generate in the fourth quarter to reach its full-year forecast of between $1.2 billion and $1.4 billion. Loss per share in the three-month period stood at $0.47, short of Wall Street’s expectations by $0.16. Plug posted third-quarter sales of around $200 million, up 5.4% year-over-year, but missing the consensus estimates by about $23 million.

The stock fell as low as $3.70 – the lowest point over three years. Plug Power shares crashed almost 35% at the last market open this week after the hydrogen technology developer warned about its financial health in its Q3 financial report. Plug Power Rings Alarm Bells Amid Dire Need for Funding The nosedive caused a broader market sell-off, with stocks like FuelCell Energy (NASDAQ: FCEL) and Ballard Power Systems (NASDAQ: BLDP) declining at the time of writing. Plug Power (NASDAQ: PLUG), a company that develops hydrogen fuel cell systems, saw its stock price crash sharply by more than 34.7% at Friday’s market open following a concerning Q3 earnings report. Please consult our website policy prior to making financial decisions. Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice.

Plug stock earnings