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Why Plug Power Stock Is Surging Today

TheMotleyFool

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Plug Power (NASDAQ: PLUG) stock is seeing big gains in Wednesday's trading. The company's share price was up 11.2% as of 3 p.m. ET. Meanwhile, the S 500 was down 0.4% at the same point in the day, and the Nasdaq Composite had seen a decline of 0.2%.

Plug Power's valuation is moving higher today thanks to positive analyst coverage. The company's share price is likely also getting a boost from meme-stock momentum and a rising trade trend in renewable energy technologies. As of this writing, the stock is up roughly 70% year to date.

Image source: Getty Images.

Source Fool.com

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