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Plug Power, Inc. (NASDAQ:PLUG) shares are trading lower after-hours Thursday after the company announced the commencement of a $200 million public offering of its common stock.
The Details: Plug Power announced after the closing bell that it has commenced an underwritten public offering of $200 million of its common stock and intends to grant the underwriters a 30-day option to purchase up to $30 million of additional shares of common stock.
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Plug Power intends to use the net proceeds from the offering for general corporate purposes. According to data from Benzinga Pro, Plug Power shares have lost more than 77% over the past year.
Besides going to a brokerage platform to purchase a share — or fractional share — of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or another instrument.
For example, Plug Power is in the Industrials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
PLUG Price Action: According to Benzinga Pro, Plug Power closed Thursday's session down 4.42% and is down another 11.64% after-hours at $2.58 at the time of publication Thursday.
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Posted In: PLUG
