Plug Power Says Going Concern ‘No Longer Exists.’ The Stock Falls as 2023 Results Miss Estimates.

Plug Power said doubts about its ability to continue as a “going concern” no longer exist, but the stock was tumbling Friday after the hydrogen-technology company posted results for 2023 that missed analysts’ expectations. Plug disclosed in the 10-K after the stock market closed Thursday that it believes “its working capital and cash position, together with its right to direct B. Riley to purchase shares directly from the Company under the ATM Agreement, will be sufficient to fund its on-going operations for a period of at least 12 months.” Shares of Plug were falling 7.7% in premarket trading Friday to $3.26.