Why Is Plug Power Stock Going Parabolic Today?
Plug Power (NASDAQ: PLUG) is on fire this morning, surging 15% as of 9:40 a.m. ET Thursday. The hydrogen stock has gained massive momentum recently and is now up a staggering 50% in just five days. A big analyst upgrade, the start of a key hydrogen plant, and Plug Power's CEO expressing confidence in turning the company's fortunes around -- investors have found a lot to like about the beaten-down stock.
A week after starting production at its new green hydrogen plant in Georgia, Plug Power said today it had completed the first fill of a cryogenic trailer with liquid hydrogen produced at the plant. The trailer, which holds enough hydrogen to fuel more than 3,200 forklifts a day, will be used at Plug Power's customer sites, including Walmart, Amazon, and Home Depot.
With the capacity to produce 15 tons of liquid electrolytic hydrogen per day, the Georgia plant is Plug Power's largest green hydrogen plant in operation right now. The plant currently operates eight 5 MW electrolyzers and the largest proton exchange membrane electrolyzer deployment in the U.S. CEO Andy Marsh called the first fill a "critical milestone for the green hydrogen economy."
Source Fool.com
