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Why Plug Power Stock Dropped Today | The Motley Fool
fool.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com Daily Mail and Mail on Sunday newspapers.
Why Plug Power Stock Dropped Today | The Motley Fool
fool.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com Daily Mail and Mail on Sunday newspapers.
Author Bio
A member of The Motley Fool since 2006, Scott began contributing content in 2013. His focus includes renewable energy, gold, and water utilities. Follow him on Twitter. . .
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For
Plug Power (NASDAQ:PLUG) investors, the wait is over. The company announced that it has finalized the restatement of its financial reports for 2018 and 2019 as well as quarterly filings for 2019 and 2020; in addition, Plug Power has filed its 2020 annual report. According to the company, there were several areas that it needed to revisit, including (but not limited to) the book value of assets, lease liabilities, and impairment charges of long-lived assets.
Author Bio
Travis Hoium has been writing for fool.com since July 2010 and covers the solar industry, renewable energy, and gaming stocks among other things. Follow @TravisHoium
What happened
Shares of fuel cell and hydrogen stocks dropped like a rock on Friday after getting some negative reviews from Wall Street.
Plug Power (NASDAQ:PLUG) fell as much as 13.9% and is down 7.4% at 2:25 p.m. EDT.
FuelCell Energy (NASDAQ:FCEL) dropped as much as 13.4% and is now down 8.2%, while
Ballard Power Systems (NASDAQ:BLDP) was down 12.6% and is now off 9.7% today.
Bloom Energy (NYSE:BE) hasn t fallen quite as much, losing 9.7% of its value early today and now trading 6.2% lower. But that may be because it wasn t priced nearly as highly as the other fuel cell and hydrogen stocks.