Plug Power shares are trading lower amid profit taking after the stock rallied over 30% yesterday. Also, BMO Capital downgraded the stock from Market Perform to Underperform and lowered its price target from $3.5 to $2.5.
Portfolio Pulse from Benzinga Newsdesk
Plug Power shares are trading lower due to profit-taking following a 30% rally the previous day. Additionally, BMO Capital downgraded Plug Power from Market Perform to Underperform and reduced the price target from $3.5 to $2.5.
January 24, 2024 | 7:21 pm
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Plug Power's stock is experiencing a decline due to profit-taking and a downgrade by BMO Capital, which also lowered the price target.
The combination of profit-taking after a significant rally and a downgrade by a major financial institution like BMO Capital, along with a lowered price target, is likely to have a negative impact on investor sentiment and the stock price in the short term.
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