Plug Power, Inc. is experiencing a downturn today, with the stock price under pressure following the finalization of a $1.66 billion loan guarantee from the U.S. Department of Energy. This loan is intended to finance the construction of up to six facilities for clean hydrogen production, which is expected to significantly reduce greenhouse gas emissions. Despite the potential long-term benefits, investors appear concerned about the company's ability to manage this new financial commitment, especially given its recent financial struggles.
On Reddit, discussions reflect a mix of skepticism and cautious optimism. Some users express doubts about the immediate impact of the loan, with one noting, "The stock will have a cloud hanging over it until the new administration starts stating how they are going to treat hydrogen." Another user highlighted the importance of the recent 3 GW electrolyser deal in Australia, but also pointed out that the project is contingent on financing and won't start until 2027, adding to the uncertainty surrounding Plug Power's near-term prospects.
Plug Power's stock is currently trading at $2.23, down 8.73% from the previous close of $2.44. The stock opened at $2.36 and has fluctuated between a high of $2.39 and a low of $2.22. Despite being just 44 minutes into the trading day, the volume has reached 22,060,902 shares, representing 33.55% of the average daily volume of 65,764,341 shares, indicating a moderate level of trading activity this morning.