Thursday started out looking pretty bleak for shareholders of Plug Power (NASDAQ: PLUG) . With the stock still caught in the undertow from a retreating market, Plug shares fell nearly 10%. But then, the stock market sell-off reversed itself, and as of 10:30 a.m. EDT today, all three major indexes were in the green. And yet, despite the brighter mood in the market in general, Plug Power shares don't seem to be recovering as fast as everyone else's, and remain down a distressing 7.7%.
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On Wednesday, Plug Power inked a deal with Universal Hydrogen to jointly develop a hydrogen fuel-cell airplane engine capable of flying over 600 miles without refueling . Today, Plug announced a series of follow-on deals that it hopes will get its share price moving in the right direction again.
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Why Plug Power Stock Dropped 10% This Morning