Top 20 Falling Stocks with Unusual Volume

5. Plug Power Inc. (NASDAQ:PLUG)

Plug Power Inc. operates as a hydrogen fuel cell product solutions developer. It provides GenSure, GenDrive, GenCare, ProGen fuel cell engines, GenKey, and GenFuel hydrogen storage and dispensing products. The company also offers liquefaction systems, electrolyzers, cryogenic equipment, and liquid hydrogen. Its stock price hit a six-year low in the last month and just in the last week, the stock is down 19.26% on a relative volume of 2.08.

To improve financial stability, Plug Power has recently announced restructuring plans, including workforce reductions and cost reductions. The company targets to reduce annual expenses by $150 million to $200 million. In a new filing, the firm highlighted its Project Quantum Leap plan to improve cash flows, margins, and profitability.

CEO Andy Marsh mentioned:

“Despite steps taken in 2024 to shore up the company’s finances, it is clear based on market dynamics that we have to make additional strides.”

In 2024, the company reported a net loss of $2.1 billion, an increase from $1.4 billion in 2023. The firm recorded a gross margin loss of 122% for the quarter. PLUG will require an additional $600 million investment for the completion of its Department of Energy Loan Guarantee program project. Overall, 2024 was a tough year for the company, and 2025 is unlikely to be better, going by the investor sentiment.