Plug Power (NASDAQ:PLUG) stock is getting a boost on Tuesday after the hydrogen and fuel cell development company announced an update on its hydrogen plants.
The big news that has PLUG stock excited is its hydrogen plants in Georgia and Tennessee reaching their nameplate capacity. The company also notes that its Louisiana plant is on track to reach mechanical completion by the end of the third quarter of 2024.
Plug Power CEO Andy Marsh said the following about the hydrogen advancements:
“As part of our initiative to strengthen financial performance, we are pleased to make headway in a two-prong strategy: lower cost sourced hydrogen through capacity expansions at our Georgia and Tennessee plants coupled with improved margins through the recalibration of pricing across our portfolio.”
PLUG Stock Movement on Tuesday
The hydrogen update from Plug Power today has investors in PLUG stock excited. That has the company’s shares up 6.2% as of Tuesday morning. However, the shares are still down 42.4% since the start of the year.
With the rise in PLUG stock today comes roughly 18 million units trading hands. That’s still below the company’s daily average trading volume of about 38 million shares.
Investors who are seeking out even more of the most recent stock market stories are going to want to stick around!
We are offering up insight into all of the biggest stock market happenings worth reading about on Tuesday! Among that is more news concerning inflation, a date to watch for Apple (NASDAQ:AAPL) stock fans and a Federal Trade Commission (FTC) non-compete ban vote today. All of that info is available at the following links!
More Tuesday Stock Market News
- PCE vs CPI: Why Does the Fed Prefer the PCE? How Are the Two Inflation Metrics Different?
- Dear AAPL Stock Fans, Mark Your Calendars for May 7
- Non-Compete Ban Vote: Is the FTC Getting Rid of Non-Compete Agreements?
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
