Why Plug Power Plunged 11% in Share Price Today
Pity Plug Power (NASDAQ: PLUG) investors. They're getting diluted -- again.
Last night after close of trading, the fuel cells-for-forklifts company announced that it will sell anywhere from 40 million to 46 million newly issued shares of stock in a secondary public offering. No offer price was stated, but investors are getting a chance to suggest a price today: $3.40 per share.
And as of 10:30 a.m. EST, Plug Power shares are trading down 10.8% from where they closed yesterday.
Source Fool.com
