Why Shares of Plug Power Are Powering Down Today
Plug Power (NASDAQ: PLUG) appears poised to end the week on a dour note. Shares of the hydrogen fuel cell specialist plunged Friday morning after management provided a business update and warned investors that the company's top-line growth in 2022 may not be as robust as it had previously expected.
As of 11:57 a.m. ET, shares of Plug Power were down 6.7%.
Originally, Plug Power management had guided for 2022 sales in the range of $900 million to $925 million. However, supply chain disruptions have impaired the company's ability to meet that target. Management now believes revenue will be 5% to 10% lower than the original guidance range.
Source Fool.com
