Recognized as a leading hydrogen and fuel cell business, Plug Power (NASDAQ: PLUG) is optimistic that it will play a pivotal role in the ongoing adoption of hydrogen power solutions. Plug’s not alone in waxing optimistically about the burgeoning hydrogen economy, as many energy experts acknowledge that hydrogen will occupy an increasingly significant position on the energy landscape.

While investors recognize Plug as an interesting growth opportunity, the company has been on the public markets for nearly 25 years. Let’s take a look to see how many shares of Plug stock investors would have if they had clicked the buy button when the company held its initial public offering (IPO) in 1999.

Are You Missing The Morning Scoop? Wake up with Breakfast news in your inbox every market day. Sign Up For Free »

In its history as a publicly traded company, Plug Power has had only one stock split: a 1-for-10 stock split it executed in 2011. This reverse stock split meant that for every individual share of Plug stock that investors held, they then had 0.1 shares. To make the math a little simpler, for every 100 shares before the split, after the split, investors would then have 10 shares.

Management stated that its decision to implement the reverse stock split stemmed from its receipt of a noncompliance notice from Nasdaq in December 2010. At that time, shares of Plug Power were trading for around $0.40 on a pre-reverse stock split-adjusted basis.

While Plug Power has maintained compliance with the requirements of the Nasdaq exchange, it’s not as if the stock is in such high demand now. In fact, shares of Plug are down almost 60% since the start of the year. Most recently, investors have turned their back on Plug stock after the company reported disappointing third-quarter 2024 financial results.

Those considering a position in Plug with the stock’s decline should tread carefully — extremely carefully — as plenty of risks exist with the persistently unprofitably company.

Before you buy stock in Plug Power, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Plug Power wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

Consider when Nvidia made this list on April 15, 2005… if you invested $1,000 at the time of our recommendation, you’d have $869,885!*

Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than quadrupled the return of S&P 500 since 2002*.

Story Continues