Title: Plug Power (PLUG) Stock Jumps on New COO Announcement: Can Hiring an Amazon Veteran Boost Credibility?
Shares of Plug Power surged after announcing a new Chief Operating Officer, Dean Fullerton, previously from Amazon. This hiring is seen as a positive move for PLUG stock, but challenges remain in the green hydrogen market. Despite a potential $60.56 billion ecosystem value by 2030, Plug Power has struggled to deliver results for investors, with the stock dropping 48% this year. Analysts have a consensus hold rating on PLUG stock, but the average price target suggests a 76% growth potential. The appointment of Fullerton may be a step in the right direction, but Plug Power still faces an uphill battle for credibility in the market.
Analysis:
– Plug Power announced a new COO, Dean Fullerton, who previously worked at Amazon, which initially boosted PLUG stock.
– Despite the promising green hydrogen market growth, Plug Power has struggled to deliver results for investors, with the stock dropping significantly.
– Analysts have a mixed outlook on PLUG stock, but the average price target indicates a potential for growth.
– The hiring of Fullerton may help Plug Power move towards its strategic objectives, but challenges in credibility remain.