New York, Feb 10, 2026, 07:50 (EST) — Premarket
Plug Power shares were flat at $2.10 in premarket trading on Tuesday as investors looked ahead to a shareholder vote that could reshape the hydrogen company’s financing options. 1
The near-term focus is not sales or factory output. It is paperwork and turnout — and whether Plug can win approval to expand the pool of shares it is allowed to issue, a step that can make future fundraising easier but also raises dilution fears.
A company filing showed Plug failed to clear the vote threshold last week for two charter proposals, including a plan to increase authorized common shares to 3.0 billion from 1.5 billion. The special meeting is set to reconvene at 4:00 p.m. EST on Feb. 17, after the company said preliminary results showed about 39.63% of outstanding shares backed Proposal 1 and about 49.40% backed Proposal 2.
Chief Executive Officer and Executive Chairman Andy Marsh has been pressing shareholders to vote, arguing the company is close. “We are close, but we are not done yet,” Marsh wrote in a Feb. 3 blog post, adding the company could be forced into a reverse stock split if Proposal 2 fails. 2
In regular trading on Monday, Plug shares rose 1.2% to close at $2.10, extending a second straight day of gains in a firmer U.S. market. The stock is still down about 54% from its 52-week high of $4.58, and volume ran below its 50-day average, MarketWatch data showed. 3
A separate overhang has also crept back into the story: investor law firms have publicized a securities class action tied to past statements and federal loan-related issues, with an April 3 lead-plaintiff deadline. 4
For traders, the setup is messy. If the share authorization passes, investors may immediately game out how soon Plug might tap equity markets and at what price.
But if the proposals fail again, the company could face a tighter capital window and more corporate actions that tend to spook short-term holders — including the reverse-split route Marsh warned about, which can lift the share price mechanically but does not fix cash needs by itself.
The next catalyst is the Feb. 17 reconvened meeting and any update on the vote count as the deadline approaches. After that, attention shifts quickly to Plug’s next earnings date, listed by Trading Economics as Feb. 26, when investors will be looking for financing plans and the pace of losses as much as demand. 5
