These 10 Firms Took A Hit on Friday

2. Plug Power Inc. (NASDAQ:PLUG)

Plug Power Inc. (PLUG) dropped by 10.95 percent on Friday to end the day at $2.44 apiece, in line with overall market sentiment, as investors sold off positions ahead of President-elect Donald Trump’s return to office on Monday.

Earlier this year, Plug Power (PLUG) was not spared from a broader market decline over fears that Trump may declare a national economic emergency to push through his tariff policies.

The statement made investors more cautious and lowered valuations, while Plug Power’s business could also face challenges from the tariffs.

In other news, investors discounted reports that the company secured the green light for Plug Power’s subsidiary, Plug Power Energy Loan Borrower, to construct up to six clean hydrogen facilities for a total of $1.66 billion.

The initiative aligns with the Biden-Harris administration’s strategy to bolster a clean energy economy and is part of the Investing in America agenda, ensuring the US remains a leader in the global energy sector.