Plug Power, Inc. is experiencing a downturn today, with no significant new developments or announcements to explain the decline. The lack of fresh news leaves investors speculating on potential reasons for the stock's movement. Concerns over the company's financial health and the impact of potential U.S. tariffs, as previously reported, may still be weighing on investor sentiment. Additionally, the uncertainty surrounding the completion of a $1.66 billion Department of Energy loan continues to contribute to the stock's volatility.
On Reddit, discussions reflect a mix of skepticism and hope regarding Plug Power's future. Some users express concerns about the company's reliance on non-clean energy sources for hydrogen production, which may affect its eligibility for the full $3/kg 45v tax credit. One user noted, "If Plug doesn't actively tell us, it makes me think they're not getting the full $3/kg." The potential for a short squeeze if the Department of Energy loan is finalized is also a topic of speculation among investors.
Plug Power's stock is currently trading at $2.60, down 2.81% from the previous close of $2.67. Despite being just 30 minutes into the trading day, the stock has already seen a volume of 7,666,982 shares, which is 12.43% of its average daily volume of 61,705,478 shares, indicating moderate trading activity this morning.