Plug Power Stock Plummets 40% as Revenue Slump Raises Concerns
• Plug Power (PLUG) stock has plunged over 40% year-to-date as revenue growth has not met expectations • Q3 revenue of $200M was below Q2's $260M, continuing a trend of underperformance • Morgan Stanley analyst sees further downside and maintains Underweight rating and $3 price target • Delays at Georgia green hydrogen facility could pressure growth plans and profitability • Company may need to raise $1B-$1.5B in capital to fund capital intensive business