Plug Power (NASDAQ:PLUG) stock is on the move Monday after the hydrogen and fuel cell company got approval for its acquisition of HyVia.
This approval comes from the European Union (EU) and allows Plug Power to complete its join acquisition of HyVia alongside Renault (OTCMKTS:RNLSY). This will give them a 50-50 split ownership of HyVia.
A big focus of this joint venture will have Plug Power and Renault focusing on the development of fuel cell technology and hydrogen fuel. This tech will use Renault’s platform and be used in fuel cell-powered light commercial vehicles (LCVs).
The goal is to set up a “vertically integrated manufacturing center” in France. On top of that, the two want to create more hydrogen refueling locations across Europe, as Seeking Alpha reports.
How This News Affects PLUG Stock Today
PLUG stock started off down on Monday morning but has been regaining lost ground since then. This has the company’s shares down about 1% as of this afternoon.
That movement comes with more than 32.9 million shares of PLUG stock changing hands. This is closing in on its daily average trading volume of about 36.5 million shares.
Investors who are seeking out even more of the most recent stock market stories today are in luck!
We have all of the hottest stock market news that investors need to know about on Monday! Among that is Nvidia (NASDAQ:NVDA) facing an antitrust probe overseas, Macy’s (NYSE:M) calling off a take-private deal and what has Scinai Immunotherapeutics (NASDAQ:SCNI) stock rising today. You can catch up on all of these matters by checking out the following links!
More Stock Market News for Monday
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- M Stock Plunges 13% as Macy’s Calls Off Take-Private Talks
- Why Is Scinai Immunotherapeutics (SCNI) Stock Up 56% Today?
On the date of publication, William White did not have (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.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
