What's Going On With Plug Power Stock?
Portfolio Pulse from Erica Kollmann
Plug Power, Inc. (NASDAQ:PLUG) shares are trading higher, continuing the stock's upward trend with gains of over 20% for June. Catalysts include the company's analyst day, increased revenue diversification, and a clear path to positive operational cash flow. The company also received a $21.8 million grant from the European Commission for an offshore hydrogen production plant. The stock has high short interest with 19.39% of available shares currently sold short.
June 29, 2023 | 2:54 pm
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POSITIVE IMPACT
Plug Power's stock is on an upward trend due to several positive catalysts including increased revenue diversification, positive operational cash flow, and a significant grant from the European Commission.
The stock is likely to continue its upward trend in the short term due to the positive news of increased revenue diversification, a clear path to positive operational cash flow, and a significant grant from the European Commission. The high short interest could also lead to a short squeeze, further driving up the price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100