Steve Gelsi covers banking and cannabis as a Senior Reporter for MarketWatch.
Plug Power Inc.
stock was up 4.3% in premarket trades on Wednesday after the hydrogen fuel cell specialist said it expects to generate $6 billion in revenue by 2027 and $20 billion in revenue by 2030, as part of presentation by the company. Plug Power expects to generate about $1.2 billion in 2023, compared to the FactSet consensus estimate of $1.28 billion. The company is projecting a compound annual growth rate in revenue of about 50% and a 5% gross margin by 2030 as its ramps up production.
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