"Plug Power's Stock Plunge Continues Amid $1 Billion Offering Plan"
Plug Power's stock plunges to its lowest in over four years as the market resets expectations ahead of the company's upcoming business update, with concerns over underperformance in revenue and margin track record. Analysts anticipate further downside to the company's revenue and margin guidance for FY 2024, with potential delays in green hydrogen production adding pressure on growth and profitability. There's also increasing speculation that Plug may need to raise significant capital to fund its capital-intensive business, which is not fully factored into the current share price.