Here's How Much Investing $100 In Plug Power Stock Back In 2010 Would Be Worth Today

Investors who owned stocks in the 2010s generally experienced some big gains. In fact, the SPDR S&P 500 SPY total return for the decade was 250.5%. But there’s no question some big-name stocks did much better than others along the way.

Plug’s Difficult Decade

One of the worst performers of the decade was alternative energy stock Plug Power Inc PLUG.

Plug is one of the world’s largest designers and manufacturers of hydrogen and fuel cell systems, and it appeared perfectly positioned to capitalize on the rise in electric vehicles over the past decade.

Plug’s decade was defined by impressive major deals with huge-name partners followed by disappointing financial results from those deals.

In February 2014, Plug signed a partnership deal with Walmart Inc WMT to supply GenDrive fuel cells for its forklift fleets. After initially popping on the news, Plug’s shares tanked when it became clear the Walmart deal would not be enough to change Plug’s negative net earnings, operating earnings and cash flow.

Plug shares again rallied in 2017 when Plug announced a new $600 million deal with Amazon.com, Inc. AMZN to supply forklift fuel cells and essentially double Plug’s revenue. Unfortunately, not even the Amazon deal has been enough to get Plug consistently profitable by the end of the 2010s.

Plug shares started the 2010s trading at around $3.91. Prior to the Walmart deal in early 2013, Plug shares had dropped to their lowest point of the decade, falling as low as 11.5 cents. Over the next year or so, the Walmart deal would drive nearly a 1,000% gain in the stock, which reached $11.72 on the Walmart news.

Unfortunately, that level would mark the high point of the 2010s for Plug. By early 2017, Plug shares dropped back below $1. The 217 Amazon deal only got the stock as high as $3.21 before it once again drifted down to the $1 level by the beginning of 2019.

2020 And Beyond

Plug made it as high as $6.05 in early 2020 before the COVID-19 market sell-off hit the stock, taking it back below $4.

After a volatile decade, $100 worth of Plug stock purchased in 2010 would now be worth around $65.

Looking ahead, analysts expect Plug will bounce back at some point in 2020. The average price target among the eight analysts covering the stock is $6 suggesting 53.5% upside from current levels.

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