Plug Power Inc PLUG is on the rise, trading 8.9% higher at $4.40. Since Monday, the stock has climbed 28%, surprising many given the absence of company-specific news.
After a tough November, Plug Power seems to be bouncing back this December. The stock took a significant hit after the company’s third-quarter EPS and sales results missed the mark.
Recent News: 4 Analysts Slash Plug Power Stock Outlooks
Plug Power’s stock endured a rough patch last month due to a “going concern” alert triggered by a substantial deficit, cash flow issues, and projected losses reaching $3.8 billion.
The company blamed hydrogen network challenges for its disappointing performance, falling short of revenue expectations and reporting a net loss of 47 cents per share.
With worries about its financial standing, Plug Power cast doubt on its ability to stay afloat in the coming year due to inadequate funds, raising concerns about its future viability…Read More
Benzinga Pro data indicates that Plug Power has seen a 52-week high of $18.88 and a low of $3.22.