Why Plug Power Stock Tumbled This Morning
Shares of Plug Power (NASDAQ: PLUG) surprisingly tumbled Wednesday morning despite receiving a strong upgrade from an analyst. If that sounds strange, investors are perhaps looking beyond analysts' ratings and weighing the hydrogen fuel-cell stock's prospects after President Joe Biden's clean energy proposals in his multi-trillion dollar infrastructure bill hit a roadblock yesterday.
Plug Power shares were down 2.4% as of 10 a.m. EDT Wednesday.
This morning, Truist analyst Tristan Richardson raised his price target on Plug Power stock to $36 per share from $29 a share, encouraged by the company's latest outlook. Plug Power is trading just under $33 a share as of the time of this writing.
Source Fool.com
