Plug Power’s stock plunges 25% as company sees ‘unprecedented supply challenges’

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Plug Power misses Wall Street expectations for its third quarter, pulls 2023 guidance

Shares of Plug Power Inc. dropped more than 25% in the after-hours session Thursday after a wider loss and a revenue miss for the fuel-cell company, which said it faced “unprecedented supply challenges.”

The year’s financial performance overall “has been negatively impacted by unprecedented supply challenges in the hydrogen network in North America,” Plug Power executives said in a letter to investors.

 

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