What's Going On With Plug Power Stock Wednesday?

Plug Power Inc PLUG shares are trading lower Wednesday afternoon, extending a pullback from the previous session amid a broader market downturn. The stock is being caught in a risk-off mood that swept Wall Street after cautionary remarks from Federal Reserve Chair Jerome Powell, which particularly pressured technology and growth stocks.What To Know: The decline continues a volatile week for the hydrogen fuel cell company. Shares had rallied Monday on optimism about providing alternative energy solutions for AI data centers.However, the stock slid Tuesday after the company filed a prospectus supplement for the resale of common stock tied to over 185 million warrants with a $2.00 exercise price. While part of a previously disclosed plan, the filing renewed investor focus on potential share dilution. Wednesday’s sell-off likely reflects a combination of macroeconomic headwinds and company-specific financing activities, erasing the strong start to the week and highlighting ongoing market sensitivity to Fed policy.Technical Momentum: According to data from Benzinga Pro, Plug Power is experiencing a bearish trend Wednesday, falling 5.54% to $2.385.The stock is trading significantly above its 50-day moving average of $1.66, indicating a potential overextension. Key support levels are likely around the recent low of $2.34, while resistance may be encountered near the high of $2.61.Wednesday afternoon’s trading volume has surged to 150,383,546, well above the average of 74,085,501, suggesting heightened interest and activity in the stock. Benzinga Edge Rankings: Despite the recent price pressure, Benzinga Edge rankings show the stock maintains a strong Momentum score of 84.53, though its Growth score is a low 14.84.Read Also: Golden Cross Alert: Lithium Americas Rockets 90%+ As Trump Eyes 10% StakeHow To Buy PLUG StockBy now you're likely curious about how to participate in the market for Plug Power – be it to purchase shares, or even attempt to bet against the company.Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.Image: Shutterstock