U.S. Markets open in 3 hrs 23 mins
  • Crude Oil

    70.51
    -0.05 (-0.07%)
     
  • Gold

    1,768.40
    -9.80 (-0.55%)
     
  • Silver

    23.03
    +0.46 (+2.05%)
     
  • EUR/USD

    1.1696
    -0.0034 (-0.2924%)
     
  • 10-Yr Bond

    1.3360
    +0.0120 (+0.91%)
     
  • Vix

    20.87
    -3.49 (-14.33%)
     
  • GBP/USD

    1.3619
    -0.0045 (-0.3282%)
     
  • USD/JPY

    109.7800
    +0.5600 (+0.5127%)
     
  • BTC-USD

    44,050.67
    +1,706.93 (+4.03%)
     
  • CMC Crypto 200

    1,089.55
    +49.07 (+4.72%)
     
  • FTSE 100

    7,083.37
    +102.39 (+1.47%)
     
  • Nikkei 225

    29,639.40
    -200.31 (-0.67%)
     

Why Shares of Plug Power Sank 20% in July

·2 min read
Why Shares of Plug Power Sank 20% in July
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

Beginning the summer on a bullish note, shares of Plug Power (NASDAQ: PLUG) jumped in June, but the market's excitement for the fuel cell stock wasn't sustained in July -- a month during which the stock fell 20%, according to data from S&P Global Market Intelligence. Although analysts at Citigroup and Seaport Global both initiated coverage on Plug Power's stock last month, assigning it a buy rating, investors weren't motivated enough to pick up shares. Between the company failing to provide details about a new deal and competition ramping up among hydrogen-focused companies, investors felt the clouds were hanging too heavily on this familiar fuel cell name.