Why Plug Power Stock Fell in February, and Kept Falling in March
After losing 12.6% value in February, Plug Power (NASDAQ: PLUG) stock has tumbled another 7% so far this month, according to data provided by S&P Global Market Intelligence.
The hydrogen stock has attracted several analyst downgrades in recent weeks, and it all started after Plug Power slashed its outlook for 2022 in late January. Although the company has outlined ambitious financial targets through 2030, investors are afraid these might be difficult to achieve and will limit the upside potential in the stock from here.
Plug Power earlier expected to grow revenue by almost 80% in 2022. Just weeks before its fourth-quarter earnings release, though, the company said it sees only 45% to 50% growth in revenue for the year.
Source Fool.com
