Why Plug Power Stock Popped 22% in September
Shares of hydrogen fuel-cell maker Plug Power (NASDAQ: PLUG) popped 22% in September, although there was little news to explain the rise -- except for one thing.
About half of Plug Power's September pop occurred on just one day -- September 20 -- when it was revealed that Plug company chairman George McNamee had just bought $426,000 worth of Plug Power stock for his personal account. The purchase of 200,000 shares of stock at about $2.13 per share seems to have inspired other investors to follow the chairman's example and buy shares for themselves.
All around the mulberry bush -- pop! -- went Plug Power stock. Image source: Getty Images.
Source: Fool.com
Plug Power Inc. Stock
€2.21
-3.310%
Currently there is a rather positive sentiment for Plug Power Inc. with 23 Buy predictions and 12 Sell predictions.
With a target price of 6 € there is potential for a 171.13% increase which would mean more than doubling the current price of 2.21 € for Plug Power Inc..
