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2021-11-10

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Why Plug Power Shares Are Falling

Plug Power Inc shares are trading lower after the company reported worse-than-expected third-quarter

Why Plug Power Shares Are Falling

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Plug Power also reported quarterly sales of $143.92 million which missed the analyst consensus estimate of $143.93 million by less than 1%. This is a 35% increase over sales of $106.99 million the same period last year.\nPlug Power highlighted, as noted in the company's second quarter investor letter, that gross margin has remained under pressure driven by multiple factors including elevated fuel, service, and product costs. Product and service costs stem in part from the COVID-19 related impact to the global supply chain.\nPlug Power noted how COVID-19 related costs primarily stemmed from freight and material costs given the global impact on the transit industry, and higher labor costs given staffing and coverage issues. The company expects these trends will continue into the year end of 2021 but begin to abate as the global crisis subsides.\nPlug Power has a 52-week high of $75.49 and a 52-week low of $18.47.","news_type":1,"symbols_score_info":{"PLUG":0.9}},"isVote":1,"tweetType":1,"viewCount":1406,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":3,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"hasMoreComment":false,"orderType":2}