Plug Power (PLUG) stock slips below $2 as revenue target and dilution vote loom
Plug Power shares fell 4.83% to $1.97 Monday, underperforming Ballard Power and the Nasdaq. Trading volume was 72.2 million shares, below the 50-day average. Plug needs about $215 million in Q4 revenue to hit its 2025 target of $700 million, after reporting $484.7 million through September. Shareholders will vote January 29 on doubling authorized shares or, if rejected, a reverse stock split.