Plug Power stock dips as investors brace for a make-or-break shareholder vote this week
Plug Power shares fell 1.6% to $2.46 Monday as investors eyed a Jan. 29 shareholder vote on doubling authorized shares to 3 billion. The company warned it may pursue a reverse split if the proposal fails. The vote comes ahead of the Federal Reserve’s Jan. 28 policy decision, a key event for volatile clean-energy stocks. Plug recently ended a warrant deal with Walmart, removing potential dilution from 42.2 million shares.