Following this news, Plug Power’s shares fell $3.35 per share, or 7.85%, to close at $39.33 per share on March 17, 2021. Sell the stock when others are doing so and buy it when the selling is overdone. On its conference call, CEO Andrew Marsh raised its$1.2 billion revenue target for 2020 to around $2 billion. This will allow the company to invest in facilities among different localities. It will negotiate with the different states across the country. Look for the company shrewdly closing deals at favorable cost levels.
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Get Started Learn how you can make more money with IBD's investing tools, top-performing stock lists, and educational content. IBD Videos Get market updates, educational videos, webinars, and stock analysis. In January, South Korean conglomerate SK Group announced a $1.5 billion investment into a joint venture with fuel cell leader Plug Power to expand hydrogen energy in Asia. Among other fuel cell stocks, FuelCell Energy dropped 6.1%, Ballard Power lost 5.3% and Bloom Energy sold off 5.7%. Plug Power shares fell 7% to close at 48.78 on the stock market today after Barclays downgraded the stock. Plug Power shares had risen over 8% on Monday after an upgrade from JPMorgan analysts.
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