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Plug Power stock tanks nearly 14% as earnings bring liquidity concerns

Earnings Results Last Updated: May 9, 2023 at 1:15 p.m. ET First Published: May 9, 2023 at 7:39 a.m. ET Company is ‘evaluating multiple sources of low-cost and non-dilutive capital’ Plug Power reported a wider loss than expected for its latest quarter. (Plug Power) Shares of Plug Power Inc. were falling nearly 14% in Tuesday
Financial Press

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plug-power-stock-tanks-nearly-14%-as-earnings-bring-liquidity-concerns

Earnings Results

Company is ‘evaluating multiple sources of low-cost and non-dilutive capital’

Plug Power reported a wider loss than expected for its latest quarter.

(Plug Power)

Shares of Plug Power Inc. were falling nearly 14% in Tuesday trading after the fuel-cell company’s latest earnings report brought a decline in liquidity and disclosures about financing initiatives.

Plug Power PLUG finished the first quarter with about $1.6 billion in unrestricted cash and available securities, down from roughly $2 billion as of the end of the December quarter.

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