Plug Power's stock is experiencing a decline today, despite the recent announcement of a $1.66 billion loan guarantee from the U.S. Department of Energy (DOE). The loan, intended to support the construction of up to six hydrogen production facilities, was expected to boost investor confidence. However, the market reaction has been muted, with some investors expressing concerns about the implications of the upcoming Trump administration on the loan's future. Discussions on Reddit reflect a mix of optimism and skepticism, with one user noting, "The reasons why the stock hasn’t gone up is probably mixed. My first guess is that investors don’t know what it means for the DOE loan when the Trump admin takes over."
The stock opened at $2.72 and has since dropped to $2.52, marking an 8.03% decrease from the previous close of $2.74. Despite being early in the trading day, the volume has reached 27,080,000 shares, which is 41.79% of the average daily volume of 64,794,554 shares, indicating significant trading activity.