Why Plug Power Stock Was Short-Circuiting This Week
Plug Power (NASDAQ: PLUG) stock wasn't looking all that powerful this week. That's curious, as the recently passed Inflation Reduction Act -- plus a new green energy initiative in the European Union -- should benefit makers of alternative-power solutions, like this company.
But other factors weighed on investors. Because of this, Plug Power's stock was down by more than 15% as of Thursday evening, according to data compiled by S&P Global Market Intelligence.
Those investors were rattled by the news on Tuesday that obscure Canadian peer Loop Energy has developed a fuel-cell solution that essentially promises better fuel economy than a traditional diesel engine. What's more, Loop's offering is cheaper than Plug Power's competing technology.
Source Fool.com
