Motley Fool

Why Plug Power Stock Is Popping Today

After rising more than 3% yesterday, shares of Plug Power (NASDAQ: PLUG) are continuing to bounce higher today, climbing 3.2% as of 11:05 a.m. EDT. With no news coming out of the company, the stock’s movement is likely a reflection of investors who are bullish on fuel cells reacting to news from one of Plug Power’s peers, Bloom Energy (NYSE: BE). Unfazed by Morgan Stanley reducing Plug Power’s price target yesterday, shareholders seem to be celebrating the collaboration that Bloom Energy announced today, recognizing it as an auspicious sign for all fuel cell companies.

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