Why Plug Power Inc.'s Shares Plunged 14% Today

Why Plug Power Inc.'s Shares Plunged 14% Today

Shares of Plug Power Inc. (NASDAQ: PLUG) fell as much as 14.4% in trading Wednesday after the hydrogen fuel cell company released a third-quarter report that showed strong growth, but a massive net loss. At 12:32 p.m. EDT shares were still down 9.6% on the day, and a recovery doesn't seem to be imminent. 

Gross revenue more than tripled to $61.4 million, but net revenue only doubled to $35.4 million after accounting for stock warrant provisions. However, Plug Power's net loss more than tripled to $41.0 million, or $0.18 per share. 

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Source: Fool.com