Why Plug Power Stock Plunged 52.7% in 2024

Shares of fuel cell and hydrogen specialist Plug Power (NASDAQ: PLUG) may have nudged higher in the beginning of the year, but the market's enthusiasm was hardly sustained. After its short rise in late January, shares of Plug dipped lower and continued to plunge for the remainder of the year due to a variety of factors, extending a slide that amounted to a 64% drop in 2023.According to data provided by S&P Global Market Intelligence, shares of Plug Power fell 52.7% in 2024.From analysts providing bearish outlooks on Plug stock to the company's disappointing first-quarter 2024 financial report, there were several factors that pushed Plug stock lower in the first half of 2024. The second half of the year didn't provide much of a reprieve.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool