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Plug Power Stock Is Trending Wednesday: What's Going On?
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Plug Power shares are rising due to strategic wins, including a $2.8 million NASA contract for liquid hydrogen supply, marking expansion into aerospace. The company restructured its balance sheet with a $431.25 million convertible note offering, retiring costly debt and saving $20 million annually. CEO Andy Marsh sees this as a turning point, aiming for positive EBITDA by 2026. Investors await a shareholder vote on increasing shares, with JP Morgan noting dilution risks. Plug Power's stock shows mixed performance against moving averages, indicating both short-term underperformance and long-term bullish trends.
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