Plug Power (NASDAQ:PLUG) stock is in focus on Tuesday as shrinking U.S. electric vehicle demand and President Donald Trump's rollback of the $7,500 tax credit weigh on the industry. Automakers cut prices and scaled back plans, while analysts flagged Plug's cash burn and margin risks, despite the company’s more substantial second-quarter revenue.
The industry suffered after the U.S. House of Representatives approved Trump's "Big Beautiful Bill," which ended the $7,500 tax credit for new U.S.-made EVs. The credit expires September 30.
