RE: Shorting ITM10 Jun 2025 15:17
Could it be Plug and Plays Uzbekistan news that's knocking ITM shares ? Yahoo says "Plug does admit, however, that the first 3 gigawatts of this partnership -- the Australian bit -- awaits a final investment decision in the fourth quarter of 2025. And no date has been set for the Uzbekistan side of the partnership. In fact, none of the 5 GW is in operation yet.
Is Plug Power stock a buy?
Meanwhile, Plug Power's growth rate has slowed noticeably. After reporting negative revenue in 2020, the company grew sales to $891 million in 2023, but then tumbled 30% in 2024, to just $629 million.
Sales did revive a bit in Q1 2025, up 12% year over year. Still, Plug's losing more than $2 billion per year, and burning nearly $950 million annually. The company's currently trying to win shareholder approval to let it sell more shares to raise cash, and allow it to avoid a dreaded reverse stock split that could make its stock go splat.
Success here is anything but certain."
ITM seems to be in better shape with its contracts and no need to raise cash ?