Why Plug Power Stock Slumped by Double Digits in January

Plug Power (NASDAQ: PLUG) stock's disastrous performance from 2024 is continuing into 2025. After plunging by 53% last year, shares of the hydrogen fuel cell maker slumped by another 12.7% in January, according to data provided by S&P Global Market Intelligence.From a business standpoint, January was a huge month for Plug Power as it struck a "monumental" deal and closed a much-needed loan agreement with the Department of Energy. Some recent events, however, have spooked investors with regard to the hydrogen stock.In mid-January, Plug Power announced a deal to supply 3 gigawatts (GW) of electrolyzer capacity to Australian company Allied Green Ammonia to power a solar plant that will produce green ammonia. It's a huge deal given the electrolyzer capacity, and important too, considering that Plug Power is banking heavily on electrolyzers to drive its revenue growth in the coming years.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool