Motley Fool

Why Plug Power’s Stock Is Plunging Today

Sinking nearly 12% last week, shares of Plug Power (NASDAQ: PLUG) have continued tumbling on Monday, falling as much as 4.8% while the S&P 500 is down 1.7% as of 10:45 a.m. EDT. With Plug Power sharing no news of its own this morning, the stock’s decline is likely a reflection of investors’ concerns that competition in the hydrogen industry is ramping up as industry stalwarts and an upstart are gaining momentum. Recognizing the global interest in the hydrogen economy, both energy and industrial titans are endeavoring to grab market share.

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