Why Plug Power Stock Is Sliding After Hours
Plug Power Inc NASDAQ:PLUG shares are trading lower in Monday's after-hours session after the company reported first-quarter financial results.
Plug Power said first-quarter revenue grew 96% year-over-year to
Plug Power reported a quarterly net loss of
"We would like to remind investors that, historically, the first half typically represents 30% of full year revenue with second half revenue representing 70%," the company said in a letter to shareholders. "We expect this seasonality to continue into 2022."
Plug Power reaffirmed expectations for
PLUG Price Action: Plug Power shares traded down to new 52-week lows on Monday.
The stock was down another 7.58% in after-hours at
Photo: courtesy of Plug Power.