Why Is Plug Power Stock Sinking Wednesday?

Plug Power, Inc. (NASDAQ:PLUG) shares fell Wednesday after the company announced a $375 million private offering of convertible senior notes.JP Morgan analyst Bill Peterson maintained a Neutral rating and withdrew the price forecast for the company. Plug Power announced a $375 million private offering of convertible senior notes due 2033 shortly after Tuesday’s close.Also Read: Plug Power Wins 55 MW Green Hydrogen Contract In UKThe proceeds will be used to retire $243 million of 15% high-cost debt and repur ...