The trading dynamics of Plug Power Inc (NASDAQ:PLUG) continues to fascinate me (and fortunately, PLUG has been good to me). Let me pose a simple series of questions/thoughts to illustrate why PLUG continues to fascinate and perplex me:

  • Historically significant news is not being released daily, yet Plug Power Inc (NASDAQ:PLUG)’s shares trade as if this were the case (recently, PLUG has traded 30-100%+ of its market cap… DAILY).
  • I know many $500-1,000 million market cap stocks that might trade 5-15 million $ daily (i.e. trades 1%-3% of market cap daily).
  • It usually is a highly rare event for a company’s stock to trade over 20-30% of its market cap.
  • It is a very, very, very, very, very rare event for a company’s stock to trade 50-100%+ of its market cap.
  • I’ve never seen a legitimate company’s stock (of material size) trade like this before.
  • If I’m a CEO of a $500-$1,000 million market cap company, I would not understand why another company’s shares trades 30-100+% of its market cap 5-15 trading days consecutively, especially absent commensurate news/developments

Here is how Plug Power Inc (NASDAQ:PLUG) has traded since I first wrote about it (fyi, I’m following PLUG, and writing about it, largely because I’m quite fascinated by what i see as a obviously anomalous activity… the kind of activity that, if I a regulatory body, I would flag immediately and investigate within 48-72 hours):

PLUG – 30%-100%+ of its Market Cap Traded EVERY DAY recently. Why? NOT due to news.
Date Open High Low Close Volume Adj Close Value Traded
3/28/2014 6.85 7.15 6.68 6.9 26101500 6.9  $        180,100,350
3/27/2014 6.55 7.19 6.21 6.89 45187800 6.89  $        311,343,942
3/26/2014 7.63 7.86 6.26 6.45 1.19E+08 6.45  $        769,179,915
3/25/2014 5.93 8.48 5.8 8.48 1.37E+08 8.48  $    1,161,942,320
3/24/2014 6.1 6.23 5.56 5.69 26559500 5.69  $        151,123,555
3/21/2014 6.09 6.12 5.33 5.94 52721500 5.94  $        313,165,710
3/20/2014 6.1 6.33 5.91 5.97 27852300 5.97  $        166,278,231
3/19/2014 6.19 6.57 5.99 6.21 52422400 6.21  $        325,543,104
3/18/2014 6.49 6.59 5.82 5.96 56945500 5.96  $        339,395,180
3/17/2014 7.18 7.34 6.27 6.51 58073600 6.51  $        378,059,136
3/14/2014 7.48 7.99 6.58 6.71 75379800 6.71  $        505,798,458
3/13/2014 7.58 8.48 6.96 8 1.31E+08 8  $    1,050,784,800
3/12/2014 5.82 7.4 5.32 6.8 1.41E+08 6.8  $        961,299,000
3/11/2014 11.44 11.72 5.95 6.03 2.44E+08 6.03  $    1,473,620,445
3/10/2014 9.23 11.41 8.57 10.31 2.12E+08 10.31  $    2,183,221,887
3/7/2014 6.79 8.35 6.53 8.27 1.26E+08 8.27  $    1,039,927,690
3/6/2014 6.45 6.69 6.02 6.36 47838600 6.36  $        304,253,496
3/5/2014 6.96 7.01 6.45 6.75 56042600 6.75  $        378,287,550
3/4/2014 6.46 7.09 6.24 6.69 1.21E+08 6.69  $        812,396,136
3/3/2014 4.6 5.83 4.5 5.82 84414000 5.82  $        491,289,480
2/28/2014 4.51 4.84 4.45 4.67 37353600 4.67  $        174,441,312
2/27/2014 4.38 4.57 4.25 4.37 21812200 4.37  $          95,319,314
2/26/2014 4.49 4.64 4.25 4.41 52906000 4.41  $        233,315,460

Via: thelongshorttrader