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Why Plug Power Stock Jumped This Week

TheMotleyFool

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Why Plug Power Stock Jumped This Week: https://g.foolcdn.com/editorial/images/719341/gettyimages-1187660755.jpg

Shares of Plug Power (NASDAQ: PLUG), a hydrogen fuel cell company, had surged by 10.8% this week as of early afternoon Friday, according to data from S&P Global Market Intelligence. A couple of bits of news appeared to be driving those gains.

First, the company signed an agreement with a key supplier that management said will help it reach its revenue goals over the next several years. Additionally, Honda made an announcement regarding its long-term plans to develop new hydrogen fuel cell vehicles.

Despite this week's gains, Plug Power's highly volatile stock remains down by about 20% over the past year.

Source Fool.com

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