Why Plug Power Stock Rocketed Higher Today
Shares of hydrogen producer and fuel cell maker Plug Power (NASDAQ: PLUG) soared 22.2% Monday, as of 1:45 p.m. ET. That extended Friday’s gain that came after the U.S. Department of the Treasury released final rules for the clean hydrogen production tax credit established by the Inflation Reduction Act (IRA).
Plug shares are rallying on the news, as these rules seem to offer flexibility that could especially benefit Plug Power with its diverse hydrogen business. Plug shares have now surged 41.5% in the first days of 2025.
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