Why Plug Power Stock Just Jumped 7%
Plug Power (NASDAQ: PLUG) stock leaped 7.1% higher through 10:50 a.m. ET Monday on the back of "news" that hydrogen power is getting more popular.
Over the weekend, (OTC: BAMXF) (OTC: BMWYY) announced plans to mass-produce its first-ever hydrogen fuel cell automobile with assistance from Toyota Motor (NYSE: TM). And seeing as Plug Power aims to become the world's biggest producer of liquid hydrogen for use in hydrogen-powered cars, it makes sense that investors would flock to Plug stock this morning.
There are caveats to this story, however. First and foremost, the fact that it's not entirely "news." In fact, Nikkei Asia reported on the Toyota and BMW collaboration two weeks ago. That said, new details about the partnership are out today.
Source Fool.com
BMW AG ADR Aktie
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