Plug Power stock plunges 21% after-hours on November 18
Plug Power fell over 21% after announcing a $375-million convertible bond sale, with an option for buyers to add $56.25 million. The update came as Luminar hit an all-time low after Volvo axed a lidar deal. Luminar has defaulted on loans, cut staff and faces SEC probes. Both companies reported large share counts and multibillion-dollar market caps in recent filings.