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Will Plug Power stock remain above 42% surge level by year-end?
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Plug Power Secures $1.66B DoE Loan Guarantee, Stock Soars 42%
May 14, 2024, 12:51 PM
Plug Power has received a $1.66 billion conditional commitment loan guarantee from the Department of Energy (DoE) to support its green hydrogen development pipeline. This significant financial backing will aid in the expansion of Plug Power's green hydrogen plant network across the United States. Following the announcement, Plug Power's stock saw a substantial increase, with shares rising by 42% and even reaching a pre-market high of 54.7%. The stock surge reflects investor optimism about the company's future prospects in the green energy sector, despite a short interest of 26%.
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