Why Plug Power Stock Dropped Then Rebounded Monday

The tech sell-off continued in early trading today, and alternative energy stocks were no exception. Hydrogen fuel technology company Plug Power (NASDAQ: PLUG) initially dropped more than the overall Nasdaq Composite Index, losing more than 6%. That may have been due to some press on the hydrogen fuel industry. But as the market pared losses, so did Plug Power stock. Shares actually moved into positive territory by 12:07 p.m. ET, up about 0.4%. 

Some of the earlier outsize drop could be due to a report from financial news service CNBC today. It highlighted Elon Musk's view that hydrogen fuel cells aren't the right path for electric vehicle development. But there are plenty of other respected players in the industry that don't agree with the widely followed Tesla CEO. 

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Source Fool.com