Lucid Lingers Near Its Lows

It’s been a rough few years for payment giant PayPal, with shares falling 85% peak-to-trough. Recently, the stock has begun to rebound with other beaten-down tech names but remains about 80% below all-time highs. In other words, it would need to nearly 5x its share price to reach those levels again. 📈

While that may seem a ways off, investors have recently pushed shares to their best three-day run since the end of 2022. That’s because the company promised to roll out new “customer-backed innovation” at an event next Thursday, with its new CEO Alex Chriss saying, “It is very clear what we need to do.”

When regular people talk about March Madness, they’re referring to college basketball. But when traders and investors talk about March Madness, they’re referring to a regional bank stock imploding.

We’re about a year out from three regional banks failing and/or being rescued, and now the sharks are circling New York Community Bancorp. The long story short, until today, is that the regional lender has too much commercial real estate exposure, weak internal controls over financial reporting, and a new CEO trying to right the ship. 🗞️

Plug Power hasn’t given investors much to be excited about over the last few years, but today’s news has people (and its stock price) charged up again. So let’s see what happened. 👇

The alternative-energy company, which provides hydrogen fuel cell technology, finalized a deal with the Department of Energy (DOE) for a $1.6 billion loan facility. This critical funding comes at a time when the company has faced immense liquidity issues, issuing a going-corn warning last quarter and disclosing a secondary share offering of up to $1 billion. 💸