First of all, PLUG popped today (it's currently up 10%), so I would possibly wait until Friday, when things have cooled off, to jump in (unless you wanna gamble and get in before the symposium tomorrow in case they release some big news like revenue predictions, expansion, or a partnership). This is more of a 2 month play I'd say.
- Morgan Stanley upgraded Plug today saying it's "well positioned to be a leader in the hydrogen economy" and increased their price target from $35 to $40. Of 25 analyst recommendations, 17 are buy, 1 outperform, and 7 hold (0 sell recommendations currently). The median price target is $40.
- Symposium tomorrow: Microsoft's Mark Monroe, Principle Engineer will speak, Australian billionaire Andrew "Twiggy" forest will speak, Senator CHUCK SCHUMER will attend this event, and has ties with the company (Plug previously hosted Chuck at the Green Hydrogen Plant in New York). They will also unveil "its [hydrogen] van developed in partnership with Renault" (a French automaker).
- Partnerships: PLUG has just partnered with Airbus and Phillips 66. Last week they formed a joint venture with SOUTH KOREA’S SK E&S to expand into Asia (they also plan to expand into Germany). The CEO, Andy Marsh, was also on Mad Money on Monday and "said that Plug is cooperating with General Motors on materials handling".
-Infrastructure bill set to pass no later than October 31st (9.5 billion allocated toward "clean hydrogen" research, thus legitimizing and investing in PLUG's sector)
-Q3 earnings coming out November 7th
-UN Climate Change conference beginning at the end of October
IMO, PLUG Power is set to capitalize on the "green movement" and innovation directed toward fighting climate change. My positions are 2 10/15 $29 calls and 5 10/22 $30 as I don't have a lot of money; HOWEVER, I plan to take profit this week and, once there is a pullback, buy options in late November/early December between $35 and $38. Like I mentioned above, unless you wanna risk the possible catalyst (tomorrow's symposium) pumping it further, wait for a pullback then jump in. This stock just might fly these next few months.