Why Plug Power Stock Jumped Again Today

Shares of hydrogen fuel cell maker Plug Power (NASDAQ: PLUG) have been on a tear in 2021. After several new business announcements, the stock has gained more than 90% just since the start of the new year.

Today, shares were more than 10% higher before settling back to a gain of 8% as of 11:45 a.m. EST. Today's move may be from a more general sector announcement from the U.S. Department of Energy (DOE). 

Last Friday, the DOE announced it was allocating $160 million in federal funding "aimed to develop technologies for the production, transport, storage, and utilization of fossil-based hydrogen."

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Source Fool.com