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Motley Fool
Why Plug Power Stock Dropped Today
Shares of hydrogen fuel-cell pioneer Plug Power (NASDAQ: PLUG) sold off in early Tuesday trading, falling 3.4% through 10:05 a.m. ET on news that a tiny rival may have a big advantage over the company. As Reuters reported this morning, Canadian penny-stock company Loop Energy — which, according to S&P Global Market Intelligence, has been in business nearly as long as Plug Power — now has a fuel-cell technology that delivers “better fuel economy than a diesel engine” at prices better than what Plug Power can beat.
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