Why Plug Power Stock Surged 13% Higher Today
Investors are clearly anticipating that Plug Power (NASDAQ: PLUG) will deliver some enticing news at the company's Investor Day on Wednesday. In advance of that, Monday saw the hydrogen fuel cell developer's share price surge more than 13% higher, a far more powerful performance than the S&P 500 index's 0.9% increase.
Plug Power hasn't taken all the wraps off the event just yet, but it did offer a few nuggets about what visiting investors can expect. One is a close-up look at the company's wares, since it's throwing open its upstate New York gigafactory to those visitors.
Of those products, company CEO Andy Marsh said on Monday that it will be evident how much Plug Power has managed to scale up its production. "This operational growth supports our near-term revenue goals of $1.4 billion in 2023 and our long-term target of achieving annual sales of $20 billion by 2030," he said.
Source Fool.com
