Why Shares of Plug Power Are Slipping Today
Without any of the usual suspects in play -- analyst downgrades, company announcements, etc. -- there seem to be separate factors pushing shares of Plug Power (NASDAQ: PLUG) lower today. Besides news of a peer raising capital through the issuance of equity, the signing of the Inflation Reduction Act may be signaling to investors that it's time to sell shares of the hydrogen and fuel-cell specialist.
As of 10:42 a.m. ET, shares of Plug Power are down 4.1%, paring back their early loss of 5.4%.
Announcing that it intends to issue 13 million shares of its stock to raise capital, Bloom Energy (NYSE: BE) disappointed investors yesterday with the prospect of shareholder dilution. This certainly appeared on the radar of Plug Power's shareholders.
Source Fool.com
