NEW YORK, Jan 21, 2026, 09:14 EST — Premarket
- After slipping in the last session, Plug Power shares inched higher during premarket trading.
- Hydrogen company CEO Andy Marsh is scheduled to take questions on Reddit on Jan. 22, right before the shareholder vote on Jan. 29.
- Investors are focused on whether Plug will get the green light to boost its authorized shares or decide on a reverse stock split.
Plug Power Inc shares nudged higher by about 0.9% to $2.33 in premarket trading Wednesday after CEO Andy Marsh announced he’ll hold a Reddit Q&A ahead of the shareholder meeting later this month. The stock had fallen 2.1% to close at $2.31 on Tuesday. 1
The spotlight isn’t on Reddit right now, but the vote tied to it. Plug is pushing for shareholder OK to raise the stock issuance cap — the board insists it’s vital for covering financial obligations and staying nimble. Still, current shareholders worry about dilution.
Plug announced that Marsh will host a Reddit “Ask Me Anything” on Jan. 22, from 2:00 to 3:00 p.m. ET, focusing on the company’s Jan. 29 special meeting. The proposal is heading back to shareholders after getting about 84% of votes at the 2025 annual meeting, but it didn’t pass under the current rule requiring a majority of shares outstanding. Plug also confirmed a CEO change in March: Jose Luis Crespo will step up as CEO, with Marsh shifting to executive chairman. A second Reddit AMA is set for March, this time covering 2025 results. 2
Investor materials for the Jan. 29 meeting spotlight two main issues: a push to “modernize” voting standards and a proposal to double authorized common shares from 1.5 billion to 3.0 billion. Plug confirmed the meeting will take place at 10:00 a.m. ET. Should the share increase fail, the company plans a reverse stock split to free up shares and keep flexibility intact. 3
Plug’s shares fell 2.1% in the last session as a broad U.S. stock selloff hit the Nasdaq Composite, which dropped 2.4%. Even so, Plug held up better than some hydrogen rivals, including Air Products & Chemicals and Ballard Power Systems, which suffered heavier losses, according to MarketWatch. The stock, however, still trades roughly 50% below its 52-week peak.
Authorized shares define the maximum number of shares a company can issue. Raising this limit doesn’t force Plug to sell stock right away, but it does clear the path for future fundraising or paying off debt with stock. For current shareholders, the risk is obvious: more shares mean each existing share’s ownership stake shrinks.
A reverse stock split reduces the total shares outstanding, pushing the share price up by simple math. It leaves the company’s fundamentals untouched but tends to unsettle investors. Usually, it’s a red flag that the firm’s capital structure is under pressure.
Alongside the financial risks, there’s a procedural hurdle. Plug has highlighted how tough it is to reach a majority-of-outstanding-shares threshold when turnout is low. Should the vote fall short once more, a reverse split could still be on the table, potentially adding more pressure on the stock.
Thursday brings a chance for traders to glean insight into Plug’s plans for extra share capacity, should it receive the green light. Key dates to watch include the Jan. 29 vote, a leadership reshuffle in March, and a company update zeroing in on 2025 results.
