Why Plug Power Stock Is Plummeting Today

Source Motley_fool

Plug Power (NASDAQ: PLUG) stock is getting hit with a round of big sell-offs in Tuesday's trading. The hydrogen fuel cell company's share price was down 18.1% as of 3:30 p.m. ET. Meanwhile, the S&P 500 (SNPINDEX: ^GSPC) was down 0.8%, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) was down 0.9%.

Plug Power's valuation is heading lower today following news that the U.S. is set to reduce support and incentives for renewable energy projects and initiatives. Adding another bearish catalyst, investors are concerned that the U.S. could get involved in Israel's conflict with Iran.

Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue »

A chart line moving down over a picture of a hundred-dollar bill.

Image source: Getty Images.

Plug Power stock sinks on spending bill news

Renewable energy stocks are seeing big sell-offs today following news that the latest version of President Trump's budget bill in the Republican-controlled Senate does away with incentives and other support for renewable energy programs. Specifically, the bill would be winding down support for solar power and wind power projects -- with the target of having the relevant incentives completely eliminated by 2028. While the bill does not make any specific reference to the hydrogen fuel cell technologies that Plug Power specializes in, the proposed legislation does signal a broader governmental pivot away from renewable energy technologies.

Concerns about conflict in the Middle East are also pushing Plug Power lower

The bearish news on the spending bill for Plug Power also arrived in conjunction with increased concerns that the military conflict between Israel and Iran will continue to escalate -- and that the U.S. could enter in support of Israel. Recent comments from President Trump and news that a U.S. aircraft carrier was being repositioned from the South China Sea to off the coast of the Middle East have added to selling pressures today.

Plug Power stock has been highly volatile lately, and its stock has lost roughly half of its value across 2025's trading. With the company's stock price now in the region of $1 per share, there's a good chance the company will move forward with a reverse stock split in order to remain in compliance with the requirements of the Nasdaq exchange. If so, the move could create another source of volatility for the stock.

Should you invest $1,000 in Plug Power right now?

Before you buy stock in Plug Power, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Plug Power wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $660,821!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $886,880!*

Now, it’s worth noting Stock Advisor’s total average return is 791% — a market-crushing outperformance compared to 174% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.

See the 10 stocks »

*Stock Advisor returns as of June 9, 2025

Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Stellar Price Forecast: XLM eyes triangle breakout rally amid PayPal’s stablecoin integration buzzStellar (XLM) ticks higher by nearly 1% at press time on Friday, adding minor gains to the 5% surge from Sunday. Stellar nears the resistance trendline of a descending triangle pattern after bouncing off its support floor on Wednesday, accounting for a near 12% surge. 
Author  FXStreet
7 Month 07 Day Mon
Stellar (XLM) ticks higher by nearly 1% at press time on Friday, adding minor gains to the 5% surge from Sunday. Stellar nears the resistance trendline of a descending triangle pattern after bouncing off its support floor on Wednesday, accounting for a near 12% surge. 
placeholder
Gold price slides closer to $3,300 amid the emergence of some USD buyingGold price (XAU/USD) attracts fresh sellers at the start of a new week and slides to the $3,300 neighborhood, or a multi-day low during the Asian session.
Author  FXStreet
7 Month 07 Day Mon
Gold price (XAU/USD) attracts fresh sellers at the start of a new week and slides to the $3,300 neighborhood, or a multi-day low during the Asian session.
placeholder
Dogecoin Resistance Walls Ahead: Analyst Flags 3 Key LevelsAn analyst has pointed out three key resistance levels for Dogecoin that could be to keep an eye on, based on on-chain data. Dogecoin URPD Shows These Price Levels Stand Out In a new post on X,
Author  NewsBTC
7 Month 08 Day Tue
An analyst has pointed out three key resistance levels for Dogecoin that could be to keep an eye on, based on on-chain data. Dogecoin URPD Shows These Price Levels Stand Out In a new post on X,
placeholder
Tron Price Forecast: TRX handles over $21 billion in weekly USDT transfers, surpassing EthereumTron (TRX) is hovering around $0.287 at the time of writing on Tuesday after rising nearly 4% the previous week. The TRX network has processed over 13 billion transactions and handles more than $21 billion in USDT transfers each week, surpassing Ethereum (ETH).
Author  FXStreet
7 Month 08 Day Tue
Tron (TRX) is hovering around $0.287 at the time of writing on Tuesday after rising nearly 4% the previous week. The TRX network has processed over 13 billion transactions and handles more than $21 billion in USDT transfers each week, surpassing Ethereum (ETH).
placeholder
Gold price drifts lower as reduced Fed rate cut bets offset trade jittersGold price (XAU/USD) struggles to capitalize on the previous day's goodish rebound from a one-week low – levels just below the $3,300 mark – and trades with a mild negative bias during the Asian session on Tuesday.
Author  FXStreet
7 Month 08 Day Tue
Gold price (XAU/USD) struggles to capitalize on the previous day's goodish rebound from a one-week low – levels just below the $3,300 mark – and trades with a mild negative bias during the Asian session on Tuesday.
goTop
quote