Plug Power (PLUG) Stock Plunges After Hours on $375 Million Convertible Note Deal – Key News for November 18, 2025
Plug Power announced a $375 million convertible note offering on November 18, 2025, aiming to refinance debt. Shares closed at $2.10, up less than 1%, then fell over 15% to $1.70 in after-hours trading. The company outlined new cost-cutting and efficiency plans at its annual symposium. Wall Street sentiment remains cautious, with some analysts lowering price targets.