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Kepler Communications Announces Successful Launch of 2 New GEN1 Satellites Creating the Largest
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Kepler Communications Announces Successful Launch of 2 New GEN1 Satellites Creating the Largest Constellation by a Canadian Company
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Plug Power got big news Wednesday that sent Plug shares rocketing higher. South Korean firm
SK Holdings is investing $1.5 billion into Plug to speed the adoption of hydrogen technology in Asia.
Subsidiary of SK Group (ticker: 034730.Korea) will get about 51.4 million shares of stock at $29.29, representing almost 10% of the company, for its investment.
Investors are thrilled with the news. Plug (PLUG) stock is above $44 a share, after gaining roughly 28% in early trading. Shares closed Wednesday at $35.
“SK Group has an established strategy for building out the hydrogen economy in South Korea and beyond,” said Plug CEO Andy Marsh in the company’s news release. “The current relationship with SK Group offers immediate strategic benefits to Plug Power to accelerate its expansion into Asian markets and is intended to result in a formal joint venture by 2022.”
Tesla CEO Elon Musk. Maja Hitij/Getty Images
Tesla has been called a lot of things. But now GLJ Research analyst Gordon Johnson likens some of the electric-vehicle marker’s reporting to Bernie Madoff’s in a provocative Tuesday report reviewing its fourth-quarter deliveries.
Tesla (ticker: TSLA) didn’t respond to multiple requests for comment on Johnson’s report. The company doesn’t typically comment on analyst research.
Deliveries are usually a big deal for Tesla stock, and its fourth-quarter deliveries should be reported in the first days of the new year. Delivery estimates, overall, are moving higher even among bearish analysts.