Plug Power Surges Higher

Shares of Plug Power Inc PLUG are experiencing a notable increase in share price Tuesday afternoon following a company announcement involving a new financing deal for the company.

On Tuesday afternoon, the Albany Business Review released a report that outlines how Plug Power expects to “boost revenue.”

Within the report, CEO Andy Marsh stated, “the new financing options will help Plug generate more than $75 million in revenue this year...we're on track to do $130 million in revenue in 2015," Marsh said.

Following the release, shares of Plug Power surged roughly 5% to $4.30 and are continuing to move higher; currently trading at $4.44 up 6.2 percent.

It appears the $4 level is support, as it was tested five times since April and continued to hold strong. 

Posted In: Movers