Plug Power Stock Plummets Following $375M Convertible Notes Offer

Shares of Plug Power (NASDAQ: PLUG) experienced a significant decline on Wednesday, November 19, 2025, following the announcement of a $375 million convertible notes offering. The stock’s value dropped approximately 19%, plummeting from Tuesday’s close of $2.14 to around $1.73 before trading at $1.9250 for a 10.07% decrease by the end of the day. The company is utilizing this offering to refinance existing high-interest debt.