NEW YORK, Jan 21, 2026, 09:14 EST — Premarket
- Plug Power shares edged up in premarket trading following a drop in the previous session.
- Hydrogen company CEO Andy Marsh will answer questions on Reddit on Jan. 22, just before a shareholder vote set for Jan. 29.
- Investors are watching closely to see if Plug secures approval to increase its authorized shares or opts for a reverse stock split.
Plug Power Inc shares edged up roughly 0.9% to $2.33 in premarket Wednesday following news that CEO Andy Marsh plans to host a Reddit Q&A before the shareholder meeting later this month. The stock had slipped 2.1% to close at $2.31 on Tuesday. (StockAnalysis)
The immediate focus isn’t Reddit itself, but the vote linked to it. Plug seeks shareholder approval to increase the stock issuance limit — a move the board says is crucial for meeting financial commitments and maintaining flexibility. Yet, this raises concerns about dilution among current shareholders.
Plug said Marsh will hold a Reddit “Ask Me Anything” on Jan. 22, from 2:00 to 3:00 p.m. ET, centered on the company’s Jan. 29 special meeting. The company is going back to shareholders after a similar proposal got about 84% of votes at its 2025 annual meeting but still fell short under the current voting rule, which demands approval from a majority of shares outstanding. Plug also confirmed a CEO switch in March: Jose Luis Crespo will take the helm, with Marsh moving to executive chairman. The company plans a second Reddit AMA in March, this one focused on 2025 results. (Plug Power)
Investor materials for the Jan. 29 meeting highlight two key points: a plan to “modernize” voting standards and a proposal to boost authorized common shares from 1.5 billion to 3.0 billion. Plug confirmed the meeting is set for 10:00 a.m. ET. If the share increase doesn’t pass, the company intends to pursue a reverse stock split to free up shares and preserve flexibility. (Plug Power)
Plug’s shares dipped 2.1% in the previous session amid a broad selloff in U.S. stocks, with the Nasdaq Composite tumbling 2.4%. Despite the decline, Plug outperformed some hydrogen peers like Air Products & Chemicals and Ballard Power Systems, which saw steeper losses, according to a MarketWatch report. Still, Plug’s stock remains about 50% below its 52-week high. (MarketWatch)
Authorized shares set the legal limit on how many shares a company can put out. Increasing that limit doesn’t require Plug to issue stock immediately, but it does pave the way for future equity raises or settling debts with shares. For existing shareholders, the downside is clear: a bigger share count dilutes the ownership each share represents.
A reverse stock split cuts the number of shares outstanding and boosts the share price by calculation. It doesn’t alter the company’s fundamentals but often rattles investors. Typically, it signals a firm is cornered when it comes to its capital structure.
There’s a procedural risk alongside the financial one. Plug has pointed out the difficulty of hitting a majority-of-outstanding-shares threshold with low turnout. If the vote fails again, the reverse split remains an option and could ramp up pressure on the stock.
On Thursday, traders are set to catch any clues on how Plug intends to deploy extra share capacity if greenlit. The key dates ahead: the Jan. 29 vote, a leadership shuffle in March, and a company update focused on 2025 results.
