www.nasdaq.com/articles/...ck-dropped-this-morning-2021-02-22
"...there's other news today that does seem like it could be tied to a sliding stock price at Plug. A press release went out this morning from privately held PowerTap Hydrogen Fueling Corp, announcing that this company is "building out a network of hydrogen fueling stations in the U.S," and is "in talks with various cities and governments across the world" regarding similar projects. Unlike Plug, which aims to produce hydrogen in one location and ship it to another for fueling, PowerTap claims to possess "revolutionary technology" that "allows them to produce on-site hydrogen" at the location where fueling will take place -- cheaper and more efficiently than how Plug operates.Indeed, the company says it already has such fueling locations "near LAX airport in California, Texas, Massachusetts, and Maryland, with plans to expand" further.
PowerTap's announcement today does appear to play into a larger story of more and more companies glomming onto the hydrogen economy trend -- companies like TECO 2030 and its Norwegian fuel cell "gigafactory" for example. The more that happens, the less unique Plug stock may appear to investors -- and the greater the risk that momentum traders will abandon Plug stock in favor of some brighter, shinier object....