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
