Why Shares of Plug Power Are Plummeting Today
Ending yesterday on an inauspicious note, shares of Plug Power (NASDAQ: PLUG) are continuing their downward spiral today. News of the deal with MOL Group that the company announced yesterday continues to have investors scratching their heads.
As of 12:52 p.m. ET, shares of the hydrogen specialist haven fallen 6.2%.
Unsurprisingly, the initial enthusiasm Plug Power investors expressed yesterday regarding the deal with MOL Group quickly faded. While the supply agreement -- which will see Plug Power supply MOL Group with a 10 megawatt electrolysis unit -- is an encouraging sign for the growing adoption of green hydrogen, investors are growing restless with Plug Power's inability to demonstrate that its fuel cell business can be a profitable endeavor.
Source Fool.com
