What's Propelling Shares of Plug Power Higher Today
Plug Power (NASDAQ: PLUG) started off the new month on an auspicious note, climbing 3.9% Monday, and investors' enthusiasm is continuing Tuesday. The fuel cell stock was up by another 6.9% as of 10:44 a.m. ET.
While one analyst's bearish take on Plug Power's stock may have some traders looking to exit their positions, a greater number are clicking the buy button in response to the broader market's rise Tuesday.
After the major indexes rose Monday, they have been extending their gains in early trading Tuesday, and Plug Power's stock has gone along for the ride. Shares of Plug Power sank 25% in September as investors moved away from more speculative growth stocks in response to rising interest rates and general fears of a recession. Evidently, those fears may be easing, and investors may again be coming to view growth stocks as viable investment choices.
Source Fool.com
