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Why Plug Power Shares Are Falling

Published 13/09/2022, 17:00
© Reuters. Why Plug Power Shares Are Falling
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Plug Power Inc (NASDAQ: PLUG) shares are trading lower by 4.58% to $28.66 Tuesday afternoon. Shares of several companies in the broader industrials sector are trading lower amid overall market weakness as August CPI readings showed inflation came in greater than expected. This has caused economic concerns and raised expectations for more aggressive Fed policy, which weighs on economic sentiment and consumer spending.

What Happened?

According to data from the U.S. Bureau of Labor Statistics, the headline CPI rose 8.3% in August, down from 8.5% in July. The August CPI reading came in above average economist estimates of 8%.

Core inflation, which excludes volatile food and energy prices, was up 6.3% in August, above average economist estimates for a 6.1% gain...Read More

According to data from Benzinga Pro, Plug Power has a 52-week high of $46.50 and a 52-week low of $12.70.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

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