Plug Power's stock falls again, they day after the biggest plunge in 9 years

Shares of Plug Power Inc. (PLUG) suffered a 5.4% drag in premarket trading, as they failed to bounce after suffering their worst day in nine years in the previous session. The hydrogen fuel cells company's stock was falling toward a 3 1/2-year low. It had plunged 40.5% on Friday, the worst one-day performance since it plummeted 41.5% on March 11, 2014, after the company reported a wider-than-expected third-quarter loss amid "unprecedented" supply changes. The current selloff also puts the stock on track to suffer the worst monthly performance since it tumbled 62.2% in February 2013. The stock has dropped 71.5% year to date through Friday, while the iShares Global Clean Energy ETF (ICLN) has shed 34.5% and the S&P 500 has gained 15%.

-Tomi Kilgore

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11-13-23 0913ET

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