Why Plug Power Stock Crashed Today
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Plug Power's stock fell 9.3% after announcing an 11% revenue growth in Q1, as losses continued to mount despite rising demand for hydrogen electrolyzers. Investors were disappointed with the company's second-quarter revenue guidance, indicating a potential decline. The company is seeking a $525 million loan to expand its hydrogen network, but its adjusted loss of $0.21 per share missed estimates. CEO Andy Marsh emphasized progress toward profitability, but challenges from the current administration may hinder clean energy adoption, leading to stagnant or declining stock performance.
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