What Happened?
Shares of fuel cell technology Plug Power (NASDAQ: PLUG) fell 0.9% in the morning session after a generally bearish stock forecast sentiment prevailed, with technical analysis indicators showing more bearish than bullish signals.
The move occurred amid broader pressure on the power sector. According to one report, technical indicators for the stock were predominantly negative, with 15 signaling bearish trends compared to 11 signaling bullish ones. This sentiment was compounded by weakness in the wider sector, which also experienced a decline during the trading session.
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What Is The Market Telling Us
Plug Power’s shares are extremely volatile and have had 97 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 6 days ago when the stock gained 7% on the news that the company announced it began its first-ever contract with NASA to supply liquid hydrogen. The agreement, valued at up to $2.8 million, involved providing up to 480,000 pounds of liquid hydrogen to two of NASA's facilities in Ohio. This deal represented a significant milestone for Plug Power as its first supply award from the U.S. space agency, underscoring the company's ability to meet stringent requirements for mission-critical operations. The news was viewed as a major win, opening up the growing space industry as a new market and acting as a strategic springboard for future opportunities in the sector.
Plug Power is down 6.7% since the beginning of the year, and at $2.18 per share, it is trading 47.3% below its 52-week high of $4.13 from October 2025. Investors who bought $1,000 worth of Plug Power’s shares 5 years ago would now be looking at an investment worth $75.68.
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