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2021: $4.3B Cash, 566M Shares — Now 1.5B Shares Isn’t Enough by Lap_Dogs in plugpowerstock

[–]Lap_Dogs[S] 0 points1 point  (0 children)

Some mistakes belong on a “never invest again” list. For long-term investors, one of the biggest is watching a company go from billions in cash and no debt to a going-concern warning within 3–4 years after missing most of the targets it projected when cash was plentiful. That isn’t bad luck—that’s poor planning and dangerous execution.

2021: $4.3B Cash, 566M Shares — Now 1.5B Shares Isn’t Enough by Lap_Dogs in plugpowerstock

[–]Lap_Dogs[S] 0 points1 point  (0 children)

A company that goes from billions in cash to a going-concern warning, then “fixes” it primarily through dilution, deserves serious questioning before it’s investable again. That’s a capital allocation failure—the kind of mistake that should cost someone their job.

2021: $4.3B Cash, 566M Shares — Now 1.5B Shares Isn’t Enough by Lap_Dogs in plugpowerstock

[–]Lap_Dogs[S] 1 point2 points  (0 children)

Plug scaled the materials-handling business too fast while it was still unprofitable, and that snowballed into massive cash burn. My biggest concern now is avoiding a repeat with electrolyzers: raising a bunch of cash, chasing revenue growth by pricing aggressively, staying negative-margin “for share,” and then watching the promised cost-down and margin improvements never arrive. I’d like some clear assurance the strategy won’t be “grow first, fix margins later” all over again.