Why Shares of Plug Power Powered Higher This Week
Prior to the start of this week, shares of Plug Power (NASDAQ: PLUG) had rallied in June, climbing more than 10%. And nothing seems to be changing with regards to the market's sentiment for this hydrogen and fuel cell stock -- especially in light of the company's encouraging investor presentation and some favorable coverage from Wall Street.
Since the end of last Friday's trading session, shares of Plug Power are up 13.6% as of 1:15 p.m. ET today, according to data provided by S&P Global Market Intelligence.
Holding its Analyst Day event on Wednesday, Plug reaffirmed 2023 forecasts that it had initially issued during Q3 2022: $1.4 billion in revenue and a $140 million gross profit. Should the company achieve this guidance, it will represent impressive year-over-year growth. In 2022, Plug reported revenue and a gross loss of $701.4 million and $194.4 million, respectively.
Source Fool.com
