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Plug Power shares fell 20% over the past month despite the S&P 500 rising 1.8%, a divergence that highlights the stock's volatility compared to the broader market.
The company reported no financial results during that period, but historical data suggests significant downside risk when market conditions deteriorate.
Since 2007, Plug Power has traded through 15 distinct market shocks, with an average decline of 47.7% during those events, compared to a 15.8% average decline for the S&P 500.
The most severe drawdown occurred during the 2008-2009 Global Financial Crisis, when Plug Power lost 84% of its value while the S&P 500 dropped 53%. This decline included a one-day price break on September 29, 2008.
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