Plug Power Inc. (NASDAQ:PLUG) is a clean energy company that focuses on products that use hydrogen. As a result, it's unsurprising that the stock is down 56% year to date as the broader clean energy sector has struggled. Hydrogen is a relative niche in clean transportation products, which doesn't bode well for Plug Power Inc. (NASDAQ:PLUG) as capital for the industry dries up. This slowdown is also evident in Plug Power Inc. (NASDAQ:PLUG)'s financials, as the firm's loss widened to $262 million in Q2 from $236 million in the year ago quarter. Additionally, investors have also factored in a potential change in the US Administration after the November election, which could affect government support for the company's projects. Plug Power Inc. (NASDAQ:PLUG)'s shares have been troubled in 2024 as a $200 million equity offering caused a 10% drop in July.