Plug Power Secondary Offering Concerns the Street; Drags Other Fuel Cell Names Down

Ever the volatile trading vehicle,

continues living up to its reputation this morning, trading down sharply on news of a secondary offering. Following the close Tuesday, the company announced it would offer 15 million shares to the public market, while an 8-K filed roughly an hour later showed revenues would be slightly higher than expected. This is not the first time the company has taken advantage of its recently inflated share price. On April 2 the company acquired Relion for $4 million in an all stock deal. The news of the offering has taken Plug Power shares down 8.36 percent in the pre-market to $6.14, while

, a direct peer, is down 2.27 percent to $3.87.

is also down, dropping 5.12 percent to $2.41.