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Plug Power Stock Falls 30% After Warning It May Go Bust

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Shares of Plug Power are down more than 30% Friday after the upstart hydrogen producer and fuel-cell maker warned it will struggle to stay afloat in the next year without raising additional cash.

The shares were on track for their lowest close since May 2020, according to Dow Jones Market Data.

The so-called going concern warning came after costs ballooned and expected government support through a potential loan and clarity on hydrogen tax credits was delayed.

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