Why Plug Power Stock Plunged in April and Could Fall Further
Shares of Plug Power (NASDAQ: PLUG) plunged 23% in April, according to data provided by S&P Global Market Intelligence.
The hydrogen stock has been in free fall ever since it announced its fourth-quarter numbers in March. It didn't help that several analysts slashed their ratings and price targets on Plug Power shares last month ahead of the company's first-quarter earnings slated, for release on May 9.
Plug Power's lofty outlook for 2022 kept investors on the hook -- the hydrogen fuel cell specialist expected its revenue to jump by almost 80% in the year.
Source Fool.com