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Why Plug Power Stock Plummeted Today

TheMotleyFool

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Shares of Plug Power (NASDAQ: PLUG) saw a stark sell-off in Thursday's daily trading session. The hydrogen-power technologies specialist's share price closed out the day down roughly 9.2%.

The Federal Reserve held its second meeting of the year yesterday and announced a 50 basis-point increase for interest rates. While the actual rate hike didn't catch many market watchers by surprise, the general tone and comments from the meeting helped spur a dramatic sell-off for the broader market.

Image source: Plug Power.

Source Fool.com

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