Why Shares of Plug Power Are Soaring Today
Rebounding from its disastrous performance last week, shares of Plug Power (NASDAQ: PLUG) are racing higher straight out of the gate this morning. For those speculating that the company has announced something promising -- think again. There hasn't been any news to explain the stock's move. Instead, investors are simply buying in advance of the company's business update that's scheduled for tomorrow.
As of 10:09 a.m. ET, shares of Plug Power are up 12.5%.
Plug Power is hosting an annual business update tomorrow, and investors are speculating that the company will have some encouraging commentary about the company's future. Furthermore, investors are presuming that the stock will rise after the business announcement, thus their interest in picking up shares now before they potentially pop tomorrow.
Source Fool.com
