Why Shares of Plug Power, Fisker, and Lucid Are Plummeting Today

The S 500 and Dow Jones Industrial Average are both off to a bearish start in Tuesday's trading session, and shares of popular clean energy stocks Plug Power (NASDAQ: PLUG), Fisker (NYSE: FSR), and Lucid (NASDAQ: LCID) are no different. Like famed fuel cell stock Plug Power, electric vehicle (EV) makers Fisker and Lucid reported quarterly earnings, and investors aren't charged up about what the companies had to share.

As of 11:49 a.m. ET, shares of Plug Power are down 14.3%, while Fisker and Lucid have fallen 6.5% and 8.1%, respectively.

Beating analysts' top-line estimate of $205.1 million, Plug Power reported first-quarter 2023 revenue of $210.3 million. This achievement is doing little to distract investors from the company's failure to meet analysts' bottom-line expectations. While analysts expected a loss per share of $0.26, Plug reported a $0.35 loss per share.

Continue reading

Source Fool.com