Why Plug Power Inc Shares Popped as Much as 19% Today
Shares of hydrogen forklift specialist Plug Power Inc (NASDAQ: PLUG) rose as much as 18.9% on Friday after the company announced an expanded agreement with Wal-Mart Stores (NYSE: WMT). As of 12:42 p.m. EDT, the stock was up 11.3%.
Wal-Mart has agreed to install Plug Power's GenKey fueling station and fuel cell energy solutions in 30 more locations over the next three years, adding to the 10 locations expected to be up and running by the end of this year. The deal is expected to be worth about $80 million for Plug Power.
Image source: Getty Images.
Source: Fool.com
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