Plug Power Stock Skyrocketed 170% on Hydrogen Hype – Now It’s Sliding: Can PLUG Rebound?
Plug Power shares surged 170% to a 52-week high of $4.18 by mid-October, then slid to about $2.92 by Oct. 22 amid heavy profit-taking and record trading volume. Bullish analyst upgrades and a short squeeze fueled the rally, but Wall Street’s consensus remains a Hold with an average $2.54 target. Plug raised $370 million in early October but continues to post steep losses and high cash burn.