Tomahawk, WI 04/14/2014 (Basicsmedia) – From trading at around the $1,500 level during the boom days of 2000 to trading at $0.175 just a year ago, the Plug Power Inc (NASDAQ:PLUG) stock has seen it all. But a 40-fold increase in one year still says exactly NOTHING about Plug Power.

ReliOn Acquisition

Plug Power Inc (NASDAQ:PLUG) acquiring ReliOn is a small deal worth about $4 million. With the acquisition, Plug will get access to some of ReliOn’s patents and will own its own fuel cell stack technology. It’s surely a bit strange that Plug did not have this technology until now.

As far as deals and dealmaking goes, this acquisition may be as non-news worthy as Jay Leno acquiring a classic car. Nothing transformational or historic. It’s not as if Apple Inc. (NASDAQ:AAPL) finally decided to make use of all that cash and acquired Tesla Motors Inc (NASDAQ:TSLA). It’s not as earthshaking as it would be if Elon Musk decided to buy, say, General Motors Company (NYSE:GM).

ReliOn is merely an humble supplier of backup power supply for the mobile towers of telecom giants such as AT&T Inc. (NYSE:T), Sprint Corporation (NYSE:S) and Verizon Communications Inc. (NYSE:VZ).

No Parallels Between Tesla And Plug

Traders appear to have a penchant for equating Tesla with Plug Power Inc (NASDAQ:PLUG). Clearly, there is no parallel here between a fuel-cell — that power forklifts — supplier like Plug and how the small California car-maker has revolutionized electric cars by taking on automotive behemoths such as GM, Ford Motor Company (NYSE:F) and Toyota Motor Corp (ADR) (NYSE:TM) and beating them by innovations in technology, smart marketing, showroom-less distribution, and great design and safety standards.

On A Weak Footing Financially

With accumulated losses amounting to $500 million over the past decade and a net loss of $62.7 million in FY2013, Plug is awash in red ink with an unbroken streak of 12 years of losses.

Other Danger Signals

There is no shortage of warning signs regarding the operations or business of Plug Power Inc (NASDAQ:PLUG). Its management is notorious for making wild (and wildly optimistic) revenue projections on which it fails to deliver and fails extravagantly.

Plug has no unique selling point or any proprietary technology that others cannot replicate. Much bigger companies in the “green energy” space making solar panels have gone bust as China got into the game and produced solar panels at much cheaper rates than their American competitors. Nothing will protect Plug from such “cheap” competition.

Some even compare Plug Power Inc (NASDAQ:PLUG) to Apple. Well, some must think Justin Bieber’s song lyrics are full of meaning and depth too. They’re known as immature adolescents.

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