Plug Power(NASDAQ: PLUG) closed at $2.53, down 4.7%. Trading reached about 388 million shares, roughly 5.5 times its three-month average of 69 million. The stock remained within its 52-week range of $0.69 to $3.32.
The broader indexes pulled back today as well. The S&P 500(SNPINDEX: ^GSPC) lost 0.6% and the Nasdaq Composite (NASDAQINDEX: ^IXIC) fell 0.95%, as comments from Fed Chair Jerome Powell put a damper on trader sentiment, causing technology and other interest rate-sensitive names to weigh on the market.
Among hydrogen and fuel-cell peers, Bloom Energy(NYSE: BE) closed at $77.38, down 10.3%, while FuelCell Energy(NASDAQ: FCEL) ended at $9.08, dropping 5.4%.
The decline in Plug’s stock price came after a strong August, when Plug’s Georgia hydrogen plant delivered a record 324 metric tons with near-full uptime and availability, highlighting operational progress. Investor focus, however, shifted toward financing after a Sept. 22 resale prospectus supplement tied to warrants revived concerns about share dilution. Despite today’s pullback, the stock remains up more than 50% over the past month. For investors, the tension between improving production metrics and capital-structure questions makes upcoming earnings and margin guidance key markers.
Market data sourced from Google Finance and Yahoo! Finance on Tuesday, Sept. 23, 2025.
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