"Plug Power's Stock Slumps to 4-Year Low After $1 Billion Share Offering Plan"

Plug Power, a US hydrogen firm, plans to sell up to $1bn of its common stock to raise capital for its business plan, including building a new gigafactory in South Korea. The announcement caused its share price to fall around 15%, reaching a four-year low of $2.35, an 87% drop since February 2021. The company had warned of potential folding due to operating losses and subsidy delays impacting electrolyser orders, leading to lower than expected income for electrolyser makers.