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Why Plug Power Stock Sank Today

TheMotleyFool

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Shares of fuel cell technology company Plug Power (NASDAQ: PLUG) dropped on Wednesday, after the company said it is going to restate financial statements. As of 10:30 a.m. EDT, shares were down 14% compared to Tuesday's closing price.

Plug Power said it will restate previously released financial statements for fiscal years 2018 and 2019 and its quarterly filings for 2019 and 2020. The company added that there will be "no expected impact on cash position, business operations or economics of commercial arrangements." Investors, however, sometimes don't wait to hear more when it comes to accounting issues.

Image source: Getty Images.

Source Fool.com

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