Why Plug Power and Other Alternative Energy Stocks Surged Today
Shares of energy stocks are on the rise Monday morning, with the most significant moves in the alternative energy sector. Shares of hydrogen fuel cell companies like Plug Power (NASDAQ: PLUG) and Bloom Energy (NYSE: BE) had jumped as much as 4% and 7%, respectively, in early trading. And the stock of solar technology company Enphase Energy (NASDAQ: ENPH) was also on the rise. As of noon EDT, shares of the three companies were moving as follows:
The overall energy sector was moving higher as the price of oil topped $82 per barrel before pulling back from its highest level in seven years. As oil and natural gas prices surge due to threats of low supply and rising demand, investors are more attracted to alternative energy names.
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Source Fool.com