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.
DateOpenHighLowCloseVolumeAdj CloseValue Traded
3/28/20146.857.156.686.9261015006.9 $        180,100,350
3/27/20146.557.196.216.89451878006.89 $        311,343,942
3/26/20147.637.866.266.451.19E+086.45 $        769,179,915
3/25/20145.938.485.88.481.37E+088.48 $    1,161,942,320
3/24/20146.16.235.565.69265595005.69 $        151,123,555
3/21/20146.096.125.335.94527215005.94 $        313,165,710
3/20/20146.16.335.915.97278523005.97 $        166,278,231
3/19/20146.196.575.996.21524224006.21 $        325,543,104
3/18/20146.496.595.825.96569455005.96 $        339,395,180
3/17/20147.187.346.276.51580736006.51 $        378,059,136
3/14/20147.487.996.586.71753798006.71 $        505,798,458
3/13/20147.588.486.9681.31E+088 $    1,050,784,800
3/12/20145.827.45.326.81.41E+086.8 $        961,299,000
3/11/201411.4411.725.956.032.44E+086.03 $    1,473,620,445
3/10/20149.2311.418.5710.312.12E+0810.31 $    2,183,221,887
3/7/20146.798.356.538.271.26E+088.27 $    1,039,927,690
3/6/20146.456.696.026.36478386006.36 $        304,253,496
3/5/20146.967.016.456.75560426006.75 $        378,287,550
3/4/20146.467.096.246.691.21E+086.69 $        812,396,136
3/3/20144.65.834.55.82844140005.82 $        491,289,480
2/28/20144.514.844.454.67373536004.67 $        174,441,312
2/27/20144.384.574.254.37218122004.37 $          95,319,314
2/26/20144.494.644.254.41529060004.41 $        233,315,460

Via: thelongshorttrader