Why Plug Power Stock Rocketed Higher Today
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Plug Power's stock surged by 22.2% following the U.S. Department of the Treasury's release of final rules for the clean hydrogen production tax credit under the Inflation Reduction Act.
January 06, 2025 | 7:30 pm
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Plug Power's stock surged by 22.2% due to the U.S. Treasury's finalization of rules for the clean hydrogen production tax credit, which is part of the Inflation Reduction Act.
The finalization of the clean hydrogen production tax credit rules is a significant regulatory development that directly benefits Plug Power, a hydrogen producer. This regulatory clarity likely boosts investor confidence, leading to a sharp increase in stock price.
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