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Why Plug Power’s Stock Is Sinking on Monday
It’s not anything the company is reporting today that’s scaring off investors, but rather news out of China and its apparent interest in the hydrogen economy. Plug Power investors are responding to news today that China is making a multibillion-dollar investment in developing its hydrogen infrastructure. According to Reuters, China Petroleum & Chemical Corporation, or Sinopec (NYSE: SNP), plans to invest about $4.6 billion on expanding annual green hydrogen production capacity to 200,000 metric tons by 2025 for the transportation industry.
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