Here's What Drove Alternative Energy Stocks Like Plug Power Higher Early Monday
Many stocks in the alternative energy sector jumped Monday morning. Shares of hydrogen fuel cell company Plug Power (NASDAQ: PLUG) rose as much as 3.6%, while hydrogen-powered vehicle maker Hyzon Motors (NASDAQ: HYZN) soared nearly 15% at its peak. Solar technology company First Solar (NASDAQ: FSLR) was up as much as 2.4%.
While there was a catalyst for those moves, the gains didn't all hold, as technology stocks represented by the Nasdaq Composite Index went from a 1% rise into negative territory. As of 3:10 p.m. ET, Plug stock had also gone negative, down 1.9%. First Solar and Hyzon Motors, however, held on to gains of 0.4% and 7%, respectively.
The initial surge came after a deal was reported for powering the country's first hydrogen-powered train. That was a reminder for investors of the future potential for these and other stocks in the renewable energy sector.
Source Fool.com
