PLUG - With a Senator Questioning Plug Power's Government Loan Is This an Opportunity to Buy the Stock?
2024-06-30 12:07:00 ET
Shares of Plug Power (NASDAQ: PLUG) surged in May after the company announced that it had received a conditional commitment for a $1.66 billion loan from the U.S. Department of Energy (DOE). However, the stock is now well below where it was before the announcement, and one U.S. senator has called the loan into question.
The stock, meanwhile, is now down over 70% in the past year.
Let's look at the proposed DOE loan, why it is being called into question, why it is so important for Plug Power, and whether the slide in the stock is a buying opportunity.
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With a Senator Questioning Plug Power's Government Loan, Is This an Opportunity to Buy the Stock?