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Why Plug Power Stock Dropped 5% This Morning

TheMotleyFool

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Shares of hydrogen fuel cell company Plug Power (NASDAQ: PLUG) tumbled 4.6% through 10:45 a.m. EST this morning in response to a confluence of factors -- both macro- and microeconomic.

The big news frightening investors today is of course the jobs report. Nonfarm payrolls grew a stronger-than-expected 311,000 in February, reported the Labor Department this morning, heightening fears that the Federal Reserve will raise target interest rates faster, higher, and for longer than hoped, diminishing the value of hypothetical future profits for still-unprofitable growth stocks like Plug Power.

That's one reason for Plug investors to worry, but it's not the only reason.

Source Fool.com

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