New York, February 7, 2026, 06:32 EST — The market has closed.
- Plug Power bounced back Friday, finishing 11.6% higher after tumbling the previous session.
- The shareholder meeting to vote on increasing the company’s authorized shares will pick back up on Feb. 17.
- CEO Andy Marsh called on international shareholders to cast their ballots, with the company facing a key turnout threshold.
Plug Power Inc surged 11.6% Friday, finishing at $2.08 after losing ground over the previous two sessions. About 109 million shares changed hands as investors eyed a postponed shareholder vote that could be key for the hydrogen firm’s future financing. Ballard Power Systems, another name in fuel cells, added roughly 5.9% for the day. 1
The upcoming session is critical—this time, the shareholder vote takes center stage. Plug’s ability to boost its authorized stock hinges on the result, a crucial tool for companies like this that frequently turn to equity sales for operating cash.
Plug’s Feb. 5 filing revealed neither proposal made it across the finish line: roughly 49.40% of outstanding shares favored raising the authorized common stock, while about 39.63% backed the shift in voting requirements. The company pushed the special meeting out again, now planning to pick things back up at 4:00 p.m. ET on Feb. 17. Stockholders were told to get their votes in by 11:59 p.m. ET on Feb. 16.
PLUG’s rebound arrived alongside a sweeping risk-on surge across U.S. stocks Friday—the Dow soared over 1,200 points to set a fresh record, while the Nasdaq tacked on roughly 2.2%, the Associated Press reported. 2
The day before, Plug slid 9.27% to $1.86, putting the stock on a jagged ride—about a 20-point swing in just two sessions, daily pricing figures show. 3
For investors, “authorized shares” is the phrase to watch. It marks the upper limit of shares a company’s charter allows it to issue. Raising that number opens up options for the company but also puts dilution anxieties back in play; if more shares are sold down the road, everyone’s slice of ownership thins out.
Plug has turned to its retail base for a boost, even calling on overseas holders who often run into added complications. In a Friday note, CEO and Executive Chairman Andy Marsh acknowledged that European shareholders have had a “challenging” time voting, and directed them to the company’s proxy solicitor for assistance getting the control numbers necessary to participate. 4
If shareholders reject the proposal, the specter of a reverse stock split is still hanging over Plug, adding more questions to the vote’s outcome. Plug has already warned: “If Proposal 2 is not approved, the Company will proceed with a reverse stock split.” That maneuver shrinks the number of shares outstanding—without touching the company’s actual value—but it’s known to unsettle investors. 5
Traders are eyeing two things right now: proxy tallies and hints the company is catching up. The major event lands Feb. 17 with the special meeting. Feb. 16, when votes are due, comes first.
