What's Going On With Plug Power Stock?

Plug Power, Inc. (NASDAQ:PLUG) shares are trading higher Monday. The stock is up more than 35% over the last month. Here's a look at what's going on.

What To Know:

Shares of PLUG are up more than 7% on above-average trading volume. According to Benzinga Pro, more than 16 million shares have been traded in the session, compared to the stock's 100-day average volume of 25.36 million shares.

Last Tuesday, Plug Power and 32 signatories submitted a letter to the Biden Administration on the Section 45V Clean Hydrogen Production tax credit implementation. Plug Power also developed a technical and policy impact analysis, "The Road to Clean Hydrogen: Getting the Rules Right" regarding the tax credit implementation.

PLUG stock has received attention from retail investors and short sellers alike. According to data from Benzinga Pro, 21.34% of available shares are currently being sold short.

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PLUG Price Action: According to Benzinga Pro, Plug Power shares are trading 7.5% higher at $12.76 at the time of publication.

Image: Courtesy of Plug Power, Inc.