Why Plug Power Stock Crashed Today
Hydrogen fuel company Plug Power (NASDAQ: PLUG) announced revenue grew 11% in the first quarter, but investors are punishing the stock today anyway. Losses continued to mount for the company, even as demand for its hydrogen electrolyzers grew.That led investors to knock Plug shares down by 9.3% as of 1:07 p.m. ET. Investors were also not impressed by the company's guidance for second-quarter revenue, which would represent a decline from the year-ago period at the low end of its range.Image source: Getty Images.Continue reading
Hydrogen fuel company Plug Power (NASDAQ: PLUG) announced revenue grew 11% in the first quarter, but investors are punishing the stock today anyway. Losses continued to mount for the company, even as demand for its hydrogen electrolyzers grew.
That led investors to knock Plug shares down by 9.3% as of 1:07 p.m. ET. Investors were also not impressed by the company's guidance for second-quarter revenue, which would represent a decline from the year-ago period at the low end of its range.
Image source: Getty Images.
