Why Plug Power Stock Dropped Today
Since the start of 2021, Plug Power (NASDAQ: PLUG) stock has risen 36%. But it has been in correction mode for the last month, down more than 30% from its highs. Shares continue the downward trend today, trading 5% below Monday's close as of 3:15 p.m. EST.
Though there has been much news put out by the company since January, a new member joining its board of directors is the only new information today. Kimberly Harriman, a vice president of energy provider Avangrid (NYSE: AGR), has joined the board of the hydrogen fuel cell company.
An addition to the company with experience in this sector should be good news for Plug shareholders, if anything. Avangrid states it works "to deliver a more accessible clean energy model." That certainly fits with Plug Power's growing hydrogen fuel solutions plans.
Source Fool.com
