Why Plug Power Shares Exploded Higher During Tuesday's Session
Portfolio Pulse from Henry Khederian
Plug Power Inc (NASDAQ:PLUG) shares closed higher by 5.21% to $10.91 Tuesday as stocks across sectors rose following a softer-than-expected CPI report, which showed slowing inflation in May. The company will also host an Investor Day event on Wednesday. A lower CPI can signal a stable or improving economic environment, promoting green and sustainable initiatives.
June 14, 2023 | 1:37 am
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Plug Power shares closed higher by 5.21% to $10.91 on Tuesday, following a softer-than-expected CPI report and ahead of the company's Investor Day event on Wednesday.
The softer-than-expected CPI report indicates a stable or improving economic environment, which is conducive to promoting green and sustainable initiatives. This can create a favorable market environment for hydrogen energy companies like Plug Power. Additionally, the upcoming Investor Day event can also positively impact the stock price as investors may anticipate new announcements or updates from the company.
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