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Why Plug Power Stock Lit Up Today
Plug Power has high hopes, low prospects.
Plug Power (NASDAQ: PLUG) stock, maker of hydrogen fuel cells -- and the hydrogen to fuel them, too -- rocketed ahead 26.4% through 3:30 p.m. ET Monday after announcing a "strategic collaboration" in... Uzbekistan, of all places.
Image source: Getty Images.
As the company explained in a press release, it is expanding a partnership with Australia's Allied Green Ammonia to set up a new 2-gigawatt (GW) hydrogen fuel electrolyzer plant, part of "a sustainable fuels project in Uzbekistan."
