Shares of Plug Power (PLUG) tumbled 6% in the latest 24-hour trading session, continuing a downward trend that has plagued the hydrogen and fuel cell company throughout 2025. The recent plunge comes amid ongoing financial concerns and a notable deal by a competitor, causing investors to reassess their positions in the troubled stock.

Plug Power's stock has been under pressure for much of the year, having already dropped 30% in the first half of 2025. While the company experienced a brief 10.5% surge last week following a bullish report on the fuel cell industry, the latest decline suggests that investors are now taking the opportunity to cut their losses or collect profits from the otherwise beleaguered stock.

Adding to investor concerns, Plug Power's competitor Bloom Energy recently announced a significant deal with Oracle to deploy fuel cells for powering data centers. This development may have prompted some investors to shift their fuel cell investments away from Plug Power in favor of its rival. Moreover, despite the recent price drop, analysts caution that Plug Power's concerning financials continue to make it an unattractive buy for investors seeking exposure in the hydrogen sector.