Plug Power (PLUG) Close to Announcing Two Headline-Grabbing Deals

April 2, 2014 11:48 AM EDT
Plug Power (NASDAQ: PLUG) is lower today amid a hit piece by Kerrisdale Capital. However, shorts may get more than what they've bargained for as the company is set to announce not one but two headline-grabbing deals over the very short term.

The first one, which has now been widely reported, is with an automaker. The deal will be to supply fuel cells for forklifts at the automaker's factory. VW is said to be the automaker in question. The second, not reported on agreement, is for a major beverage maker. The beverage maker in question is said to be Diageo - the parent company of Guinness and other famous beer and wine brands.

The Diageo deal could be larger than the current deal PLUG has in place with Wal-Mart, as it has more up front units for multiple locations.

Shares of PLUG last traded at $7.31, down 3.5%.

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