Plug Power Shares Plunge as Losses Mount and Strategy Shifts

The hydrogen technology firm Plug Power finds itself navigating turbulent financial waters. A disappointing quarterly earnings report and an unexpected strategic pivot have sent the company’s stock into a steep decline, with shares tumbling nearly 9% in a single trading session last Friday. This sharp drop is part of a more extensive downturn, with the equity shedding over 40% of its value in the past month, raising significant concerns among investors.

In a surprising move, Plug Power has withdrawn from a $1.66 billion loan guarantee program offered by the U.S. Department of Energy. The company is now pursuing a different financing path, aiming to raise more than $275 million through asset Read more...