Plug Power Is a Mess and I Won't Buy It Buying PLUG because it's a green energy name is not a good enough reason. Until we know more, this name is purely speculative. Guess it could have been worse? I had been long both Plug Power (PLUG) and FuelCell Energy (FCEL) well ahead of earnings season. Feeling I was overexposed, I rid myself of Plug Power more than a month ago. Unfortunately, I hung onto my shares of FCEL, though I have been working on my net basis. The entire Renewable Energy Equipment had been a market leader in January... and a badly lagging market dog in February. PLUG posted fourth quarter results on February 25th. Awful does not come close to properly describing the numbers. An adjusted loss many times larger than what had been expected. Revenue badly impacted by non-cash charges related to the accelerated vesting of a customer program regarding existing warrants. What? Don't bother. It gets worse.