Why Plug Power Stock Is Plummeting Today
Plug Power (NASDAQ: PLUG) stock is getting hit with a round of big sell-offs in Tuesday's trading. The hydrogen fuel cell company's share price was down 18.1% as of 3:30 p.m. ET. Meanwhile, the S 500 (SNPINDEX: ^GSPC) was down 0.8%, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) was down 0.9%.
Plug Power's valuation is heading lower today following news that the U.S. is set to reduce support and incentives for renewable energy projects and initiatives. Adding another bearish catalyst, investors are concerned that the U.S. could get involved in Israel's conflict with Iran.
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Source Fool.com
