Author: Nabaparna Bhattacharya

Plug Power, Inc. (NASDAQ:PLUG) shares are trading lower on Thursday.

According to Benzinga Pro, PLUG stock has lost over 74% in the past year. Investors can gain exposure to the stock via Global X Hydrogen ETF (NASDAQ:HYDR) and ETF Series Solutions Defiance Next Gen H2 ETF (NYSE:HDRO).

The company has appointed Colin Angle, former CEO of iRobot Corporation, to its Board of Directors. Angle brings expertise in technology innovation, robotics, and strategic leadership to Plug Power’s Board.

“Colin’s insights and experience will help guide Plug Power as we scale our operations and deliver on our commitment to sustainability, revenue growth, and profitability,” said Andy Marsh, CEO of Plug Power. 

Also Read: Plug Power Defers $50M In Sales, Misses Revenue Forecast: JPMorgan Analyst Wants A ‘Show-Me Story’

Earlier this month, Plug Power said it announced the appointment of Dean Fullerton as COO. Fullerton comes from Amazon.com, Inc., where he was responsible for global engineering services and oversaw operations engineering for 14 years.

The firm deployed over $70 million of electrolyzer systems in the second quarter. The company noted that because of final commissioning and testing requirements, the majority of the deployments were not recognized as revenue in the quarter. Plug expects to recognize that revenue in the second half of 2024.

Plug Power expects full-year 2024 revenue to be in the range of $825 million to $925 million versus estimates of $917 million.

Price Action: PLUG shares are trading lower by 2.27% to $2.15 at last check Thursday.

Photo via Shutterstock

Read Next:

• Snowflake Stock Is Falling Thursday: What’s Driving The Action?

WiSA Technologies, Inc. (NASDAQ:WISA) shares are skyrocketing on Tuesday.

The company’s unit WiSA Association has executed its fourth 5-year WiSA E licensing agreement with a fourth major HDTV/PTV (Projection TV) brand.

The WiSA E license allows the brand to integrate WiSA E software into its products, thereby offering consumers wireless immersive audio options, including interoperability with any of the WiSA E-enabled speakers offered by the many WiSA Association speaker brands.

WiSA E entails a suite of audio features that define how audio should be experienced across HDTVs, PTVs, soundbars, mobile devices, set top boxes, and speakers. 

“We are very pleased that yet another major HDTV brand recognizes the value of our WiSA E technology, as well as our licensing model for market deployment,” said Tony Ostrom, president of the WiSA Association.

WiSA E can be implemented across four HDTV SoC providers, including Realtek, Amlogic, Mediatek, and Novatek, and can be designed to be fully interoperable with WiSA-E enabled speakers.

Price Action: WISA shares are trading higher by 83% to $3.21 on the last check Tuesday. 

Photo via Shutterstock

Lucid Group, Inc. (NASDAQ:LCID) shares are trading higher on Tuesday. The company said it produced 1,728 vehicles for the quarter ended March 31, 2024, significantly lower than 2,314 vehicles in the year-ago period.

The company delivered 1,967 vehicles during this period, higher than 1,406 vehicles for the quarter ended March 31, 2023.

Last month, the company was in the headlines for inking an agreement with its majority stockholder, Ayar Third Investment Company.

Ayar, an affiliate of the Public Investment Fund (PIF), will purchase $1 billion of newly created series of convertible preferred stock via private placement.

Lucid intends to use the net proceeds from the private placement for general corporate purposes, including capital expenditures and working capital.

According to Benzinga Pro, LCID stock has lost over 65% in the last one year. Investors can gain exposure to the stock via First Trust NASDAQ Clean Edge Green Energy Index Fund(NASDAQ:QCLN) and VanEck Green Infrastructure ETF(NASDAQ:RNEW).

Price Action: LCID shares are trading higher by 4.7% to $2.76 on the last check Tuesday. 

Photo via Shutterstock

Jiuzi Holdings, Inc. (NASDAQ:JZXN) entered into a non-binding letter of intent to acquire Shenzhen Maigesong Electric Technology Co. The specific financial terms of the transaction were not disclosed. The deal has been signed by Jiuzi’s subsidiary Shenzhen Jiuzi New Energy Holding Group.

Pursuant to the terms of the LOI, Shenzhen Jiuzi will acquire 100% of the equity of Shenzhen Maigesong in exchange for certain restricted share compensation.

The company shall invest RMB30 million ($4.15 million) to fund the construction of Shenzhen Maigesong’s rechargeable lithium battery production line. 

This investment will be divided into two stages, with RMB 15 million to be invested by the end of April 2024 and another RMB 15 million by the end of November 2024.

The LOI includes an earnout provision which provides that Shenzhen Maigesong shall achieve a revenue target of RMB 119.81 million by the end of December 2025 and a revenue target of RMB 504.22 million by the end of December 2026. 

“Both parties will work together to achieve the revenue targets and promote the sustained development and growth of the enterprise,” per a press release.

Price Action: JZXN shares are trading higher by 10.9% to $4.16 on the last check Wednesday. 

Photo via Shutterstock