Why Plug Power Stock Soared 20% This Week
Shares of Plug Power (NASDAQ: PLUG), a hydrogen fuel cell company, skyrocketed this week as investors processed the news that Sen. Joe Manchin, the West Virginia Democrat, would support the Inflation Reduction Act of 2022, which includes investments in alternative energy, including hydrogen.
The stock has gained 19.8% over the past week.
Democrats needed Manchin's support for the bill, which includes $369 billion for clean energy and other climate initiatives. The Senate could vote on the bill as early as next week, and then it would go to the House for approval, which could vote on the legislation in early August.
Source Fool.com
