Why Plug Power Stock Slumped Another 13% in February
Plug Power (NASDAQ: PLUG) confirmed last month that its new hydrogen plant in Louisiana was on track to start operations in the first quarter. The hydrogen stock still fell another 13.4% in February after dropping by a similar percentage in the previous month, according to data provided by S&P Global Market Intelligence.Plug Power's earnings were around the corner, and investors clearly weren't taking a chance. They were right to be cautious -- although the hydrogen fuel-cell maker expects 4% to 16% revenue growth in its first quarter, it is also slashing costs and didn't say much about its outlook for 2025.Plug Power closed a $1.66 billion loan guarantee from the Department of Energy (DOE) earlier this year and expected to use the money to build up to six green hydrogen plants. However, President Donald Trump's decision in January to freeze the previous government's funding for the clean energy industry has put Plug Power's loan in limbo.Continue reading
Plug Power (NASDAQ: PLUG) confirmed last month that its new hydrogen plant in Louisiana was on track to start operations in the first quarter. The hydrogen stock still fell another 13.4% in February after dropping by a similar percentage in the previous month, according to data provided by S&P Global Market Intelligence.
Plug Power's earnings were around the corner, and investors clearly weren't taking a chance. They were right to be cautious -- although the hydrogen fuel-cell maker expects 4% to 16% revenue growth in its first quarter, it is also slashing costs and didn't say much about its outlook for 2025.
Plug Power closed a $1.66 billion loan guarantee from the Department of Energy (DOE) earlier this year and expected to use the money to build up to six green hydrogen plants. However, President Donald Trump's decision in January to freeze the previous government's funding for the clean energy industry has put Plug Power's loan in limbo.
