Overview
- CEO Andy Marsh fielded questions in a Reddit Ask Me Anything to rally support ahead of the Jan. 29 special shareholder meeting.
- Management is seeking to double the authorized share count to 3.0 billion from 1.5 billion to finance operations.
- Plug Power has warned that failure to gain approval could prompt a reverse stock split to facilitate future fundraising.
- The stock closed at $2.59 on roughly 183 million shares traded, with the surge described as driven largely by retail interest following the AMA.
- A similar authorization effort failed at the 2025 annual meeting despite 84% support among votes cast because it did not reach a majority of all outstanding shares.