Why Plug Power Stock Is Plunging Today
The knee-jerk reaction to the quarterly results Plug Power (NASDAQ: PLUG) released on Tuesday might have had investors rushing to pick up shares yesterday, but the market's not espousing the same fanfare today. Investors are digging in deeper to the company's performance and not liking what they're seeing. That and the fact that Wall Street is tempering its expectations for the fuel cell stock have investors reeling.
As of 10:34 a.m. ET on Thursday, shares of Plug Power have fallen 6%.
Initially, investors celebrated Plug Power's fourth-quarter 2021 earnings, which featured strong revenue growth, among other things. But look elsewhere in the company's financial statements, and it's clear why investors aren't still powered up with the results. For one, the company failed to meet analysts' expectations, reporting a loss per share of $0.33, a steeper loss than the $0.11 that analysts had anticipated.
Source Fool.com
