Why Plug Power Stock Jumped Then Slumped on Tuesday
Fuel cell stock Plug Power (NASDAQ: PLUG) went on a roller-coaster ride Tuesday, popping 3.1% in early morning trading before giving up all of those gains. Shares closed down 1%. The trajectory was pretty similar to those of most stocks in the sector as investors became cautious ahead of earnings.
Hydrogen fuel cell stocks grabbed the spotlight Monday as the United Nations climate conference, COP26, kicked off in Glasgow, Scotland. Expectations are high because more nations are expected to join the battle to combat climate change.
Tuesday was important from that standpoint, what with more than 40 world leaders signing the Breakthrough Agenda, an international plan to accelerate clean energy efforts through 2030. The Agenda focuses on five goals:
Source Fool.com
