Why Plug Power Shares Soared 14.9% Today
Shares of Plug Power (NASDAQ: PLUG) jumped as much as 14.9% in trading on Monday after the company announced a big contract. At 11:25 a.m. EST today, shares were still up 13.3%.
The big news was a $172 million contract to supply its GenDrive fuel cell power; GenFuel hydrogen, storage, and dispensing infrastructure, and other support to a Fortune 100 customer.
This is one of the biggest contracts Plug Power has signed but is still about one-third the size of the deals done with Amazon.com and Walmart three years ago.
Source Fool.com
