During his first Executive Decision segment of "Mad Money" Monday, host Jim Cramer spoke with Andy Marsh, president and CEO of Plug Power (PLUG) , a hydrogen fuel cell maker with shares up 69% over just the past three months.
Marsh said the time finally has come for Plug Power and for hydrogen as a fuel source. Marsh said more than 35,000 forklifts powered by fuel cells are deployed at customers such as Amazon (AMZN) , Walmart (WMT) and Home Depot (HD) , and that Plug Power is the largest user of liquid hydrogen in the country.
When asked about hydrogen's momentum, Marsh said companies and their sustainability goals are driving demand, not Washington. He said pro-renewable energy policies from Washington would only accelerate demand, but private enterprises are choosing green hydrogen over the alternatives.
We looked at the charts of PLUG on Oct. 12 and wrote at that time, "The price of PLUG is up nearly fourfold in a little more than four months. Traders looking to go long PLUG should exercise patience and wait for another period of consolidation. This could be a sideways period of action or it could be a pullback/decline."
Prices are pulling back, so let's check out the charts again.