Why Plug Power Stock Just Crashed

Rich Smith, The Motley Fool
·2 min read
Why Plug Power Stock Just Crashed

Shares of hydrogen fuel cell company Plug Power (NASDAQ: PLUG) have had an amazing run over the past year -- up more than 15-fold in 12 short months. In a series of tweets this morning, short-seller Kerrisdale Capital Management laid out its case against Plug stock, and it appears to be having an effect on the stock already. Announcing its short position in Plug stock today, Kerrisdale warns that investors have been investing their "hopes, dreams, and delusions of the green hydrogen energy movement" in Plug stock, "but the 'Hydrogen Economy' is a mirage."