Why Plug Power Stock Popped Today

Plug Power (NASDAQ: PLUG) shares popped on Wednesday, rising 1.8% as of 1:25 p.m. ET on Nov. 24. after the hydrogen fuel-cell specialist bagged yet another order and announced growth plans for Europe. Plug Power is clearly on a roll as far as investments into growth are concerned, and that has investors in the renewable energy stock excited.

On Nov. 24, Plug Power announced an order for a 100-megawatt (MW) electrolyzer from Abu Dhabi-headquartered chemicals giant Fertiglobe to produce green hydrogen as feedstock for an ammonia production plant in Egypt.

Fertiglobe, the world's largest seaborne exporter of urea and ammonia combined, said it chose Plug Power for its largest green ammonia project because of its leadership in electrolysis technology.

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Source Fool.com