Hello “Quick Grab” followers. It’s time for me to reveal my May Grab. I have to admit, I didn’t like that I haven’t come across a great pick that jumped $5 bucks a couple days after I made my minuscule purchase so I wasn’t that excited about doing my quick grab for May. It’s hard to get rid of those easy bake paths to success kinds of thoughts, but I’m working on it. LOL. So let’s jump right into it. I heard about a company called Plug Power and began to read up on them a little bit. Plug Power is in the business of producing cost-effective hydrogen and fuel cell power solutions. It’s an American company founded in 1997 with its headquarters in Lathan, New York. I didn’t do a whole lot of research before making this grab. There were a couple factors that pushed this decision and as with a lot of my choices I am going to soon learn whether my logic and off the cuff style of reasoning is going to serve me well as far as my beginner picks are concerned. If you’re not familiar with Fuel Cell engines here’s a quick summary: a fuel cell generates electricity through a chemical reaction. They do so while creating very little pollution. I really liked the fact that water is the main byproduct of the reaction created in the use of hydrogen fuel cell technology. When it comes to green energy, I feel like we should be taking as many steps towards advancing it and encouraging the use of it as much as possible. I just feel that we have a responsibility to be good stewards when it comes to the environment and to do our best to try and leave the world better than we found it. If we can’t leave it better let’s at least not leave it worse. The sustainability factor is what drew me most to this stock. The second factor that contributed to me pulling the trigger on this one is the fact that Amazon purchased over 50 million shares of it in April. So I believe it would be safe to say my decision was more so based on the confidence I have in the leadership of Amazon. After making this pick in May I did come across some articles that kind of opened my eyes to why the Amazon purchase could also be detrimental to the stock. For example, some of Plug Power’s biggest current clients are Amazon competitors so they may not be as giddy about doing business with Plug Power knowing that Amazon holds such a large amount of stock in the company. That remains to be seen. It is what it is, if Plug Power has a product and service that that contributes to the bottom line in a way that others can’t I believe the larger competitors will stick around.
ON 5/8/2017 I purchased 15 shares of PLUG at $2.29 per share.
I believe this is going to be another long term growth kind of stock. I will probably purchase more shares of it from time to time in the near future especially if it continues to hover in the $2 range or drops. Thanks for checking out my May grab and my June grab has already been snatched up so I will be letting you know about it really soon! Remember, you don’t have to start with thousands just get started with what you can afford. Use the knowledge you gain to be a better trader when you do have hundreds and thousands to work with. Until next time DaddyBe….