Plug Power (NASDAQ:PLUG) stock is on the move Thursday alongside a few pieces of news traders will want to know about.
First off, let’s talk about the recent change for PLUG stock at JPMorgan. The firm’s analysts added the electric vehicle (EV) charging company’s shares to its positive catalyst watchlist today. The firm did so while saying that there is potential for near-term upside for PLUG shares.
To go along with this, Plug Power has reached an agreement with Arcadia eFuels for a 280 megawatt proton exchange membrane system. The company will set this up at Arcadia’s Vordingborg plant and the system will be used for the “production of sustainable aviation fuel.”
Finally, Plug Power has also announced it is the preferred supplier of 550 MW electrolyzers to Fortescue. This will see it equip the company’s planned Gibson Island Project with this technology.
PLUG Stock Movement on Thursday
While shares of PLUG stock initially got a boost during pre-market trading, the company’s shares are currently down slightly just after markets opened. This comes with about 2 million shares traded, as compared to its daily average volume of around 21.3 million shares.
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