Why Nikola, Plug Power, and Bloom Energy Stocks Rose Today

Alternative energy company stocks with an increasing focus on hydrogen got a boost Wednesday after Nikola (NASDAQ: NKLA) announced a new letter of intent to accelerate the development of hydrogen fueling infrastructure in Germany. Shares of Nikola, Plug Power (NASDAQ: PLUG), and Bloom Energy (NYSE: BE) rose about 5% early in today's session.

Those gains had faded some, though, by noon EDT. At that time shares of Nikola and Plug Power were down almost 1%, while Bloom Energy shares had gained 2%. 

Nikola announced it was planning to form a partnership with European pipeline network company OGE and IVECO, a brand of CNH Industrial (NYSE: CNHI), to support the distribution of hydrogen in Germany by providing production and storage solutions along with fueling locations to serve industrial needs. 

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Source Fool.com