Why Plug Power Stock Jumped 19% Today
Plug Power's (NASDAQ: PLUG) stock shot through the roof this morning, surging a whopping 18.7% at its highest point. As of 1:07 p.m. ET today, the stock was still up 16.69%.
It appears the markets reacted to the hydrogen fuel cell specialist's second-quarter numbers, released yesterday after market close. Ironically, Plug Power missed analysts' estimates on both its top and bottom lines, and there were no surprises in its full-year guidance, either. In fact, Plug Power's numbers look so dismal that any other stock would have crashed after such an earnings report.
Yet, something the company said caught investors' attention, and several analysts were quick to bump up their price targets on the hydrogen stock today.
Source Fool.com
