Why Plug Power Stock Soared 14.7% This Morning
Shares of Plug Power (NASDAQ: PLUG) shot up 14.7% at the market's opening this morning and were trading 9.2% higher as of 10:30 a.m. ET on Thursday. The hydrogen fuel cell specialist just signed a huge supply agreement, answering critics who have been dismissive about the role that green hydrogen can play in the global transition from fossil fuels to clean energy. This deal could also pave the way for bigger things for Plug Power, which is why investors are pumping money into the hydrogen stock today.
Plug Power has signed an agreement with Amazon (NASDAQ: AMZN) to supply 10,950 tons of liquid green hydrogen per year beginning in 2025.
Plug Power and Amazon have been partners since 2016, with Amazon deploying more than 15,000 fuel cells to replace batteries in its forklifts across several distribution centers.
Source Fool.com
