I'm starting to think that until hydrogen is mandated and/or natural gas is taxed to near-extinction, that hydrogen will continue to have an uphill climb. On the positive side the grade of the hill seems to be decreasing and the money circling around those little H atoms is truly enormous.
From OilPrice, October 12:
- The EU plans to install 40 gigawatts of electrolyzers within its borders and support the development of another 40 gigawatts of green hydrogen in nearby countries that can export to the EU by 2030.
- Citigroup analysts are highly bullish on fuel cells.
- Despite the bright long-term outlook for the hydrogen sector, companies like Plug Power have been recording ballooning operating costs leading to widening losses.
Hydrogen power has been on the market for decades but has never really been able to break the glass ceiling of mass-market appeal, mainly due to a host of technical and cost issues. But some experts now believe that the hydrogen economy is ready for take-off, with Goldman Sachs predicting hydrogen generation could eventually grow into a $1 trillion per year market. The EU has hatched a highly ambitious plan to install 40 gigawatts of electrolyzers within its borders and support the development of another 40 gigawatts of green hydrogen in nearby countries that can export to the EU by 2030. The EU has also pledged to cut Russian gas imports by two-thirds by the end of the year and has doubled down on green energy fuels by increasing renewable hydrogen production.
And Citigroup analysts are now particularly bullish about one hydrogen sub-sector: fuel cells. Fuel cells are used in specialty vehicles such as forklifts and by energy consumers to complement electricity from the grid to smooth energy costs and ensure reliability. According to the analysts, the global fuel cell industry is a direct play on the green energy debate, and “reaching the part that batteries cannot.”....
....MUCH MORE
We didn't do anything on Plug Power or Fuel Cell Energy during the covid mania, having developed a preference for sales and earnings and cash flow during the 2000, 2003 and 2007 manias. Here are the last two years of each:
And here is FCEL showing the results of reverse splits:
The recent action isn't even a blip on the flat-line and, yes, split adjusted the stock once traded up toward $8000 per share.
Here's PLUG, not quite as bad:
All charts via BigCharts.
1999 - 2001, if you weren't there, you'd have loved it.
See also:
The Day the NASDAQ Died
-Brady/Kearny
Thanks to iTulip for giving it eternal cyber-life.
A long, long week ago
I can still remember how the market used to make me smile
What I'd do when I had the chance
Is get myself a cash advance
And add another tech stock to the pile.
With every speech that he delivered
Bad news on the rate front
Still I'd take one more punt
When I heard about the CPI
I lost my fortune and my pride
The day the NASDAQ died
I poured my paycheck into Datek
Now my cash account's dry
It's just two weeks from an all-time high
And now we're right back where we were in July
We're right back where we were in July
Q COM at 150 or above?
'Cos your plumber told you so
Now do you believe in Home Depot?
Can Wal-Mart save your portfolio?
And can you teach me what's a P/E ratio?
So you can't just take a long-term view
Your broker shut you down
No more margin could be found...
