What's Going On With Plug Power Stock?
Portfolio Pulse from Erica Kollmann
Plug Power, Inc. (NASDAQ:PLUG) shares are trading lower on Thursday but remain up by over 15% in the past five days. The company announced a Basic Engineering and Design Package (BEDP) with Allied Green Ammonia for a three-gigawatt electrolyzer plant in Australia and the development of a Class 6, medium-duty fuel cell electric truck.
May 16, 2024 | 4:44 pm
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Plug Power shares are down 1.72% despite recent gains. The company announced a BEDP with Allied Green Ammonia for a three-gigawatt electrolyzer plant and the development of a Class 6 fuel cell electric truck.
The announcement of the BEDP with Allied Green Ammonia and the development of a new fuel cell electric truck are significant milestones for Plug Power. These developments indicate progress in their hydrogen and fuel cell technology, which could drive future growth. Despite the short-term dip, the stock has seen a significant rise over the past five days, suggesting positive investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100