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Plug Power Loses Steam

00:00:58

Who pulled the plug on Plug Power ($PLUG@US)? Shares of the hydrogen fuel cell company traded lower on above-average volume Wednesday during the company's annual business update call. The company updated investors about its pipeline and provided an outlook for the year. Plug Power CEO Andy Marsh told investors that if the company is able to reach revenue levels of $925 million, in 2022, it will position the company to reach its goal of $3 billion in revenue in 2025. "At Plug we dream big, and we plan to be a big winner as our customers in the world turn to hydrogen to reduce 20% of the world's global carbon footprint," Marsh said during the call. Plug Power's average session volume is about 21 million over a 100-day period, and Wednesday's trading volume exceeded 30 million. Plug Power is an innovator of modern hydrogen and fuel cell technology. The stock closed down 8% on Wednesday.

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