Why Plug Power (PLUG) stock is moving today: reverse split warning puts shareholder vote in focus
Plug Power shares rose 1.8% to $1.97 in premarket trading after the company warned it will pursue a reverse stock split if shareholders reject a proposal to double authorized shares to 3 billion. Investors will vote on the measure Jan. 29, following an SEC filing and an analyst upgrade to “Buy” with a $3 target.