Plug Power (PLUG) disclosed in an SEC filing that it will sell up to $1 billion in shares, sending PLUG stock plunging Wednesday night.
2024 Consumer Electronics Show with show attendee and IBD Executive Editor of Multimedia, Alissa Coram. We break down the changing landscape of the CES show floor and what the new normal of artificial intelligence means for investors.” vid-name=”How CES 2024 Made Clear The AI Arms Race For Businesses Is On” vid-cat=”Industry Insights” vid-date=”01/17/2024″ vid-date-tmsp=”1705488606″ vid-image=”https://www.investors.com/wp-content/uploads/2024/01/O2xjlfuS-640×360.jpg” vid-authors=”MEREDITH HEYMAN”>
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The fuel-cell company entered into an at-market sales agreement with B. Riley.
PLUG stock plunged 14% in late trade.
Shares tumbled 10% on Wednesday to 2.73, the lowest since March 2023. That left Plug Power with a market valuation of just $1.66 billion.
PLUG stock is 78% below where it traded at the end of 2022 and 96% off its January 2021 long-term peak of 75.49.
Please follow Ed Carson on Threads at @edcarson1971, X/Twitter at @IBD_ECarson and Bluesky at @edcarson.bsky.social for stock market updates and more.
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