Shares of several companies in the broader industrial sector, including Plug Power Inc PLUG and ChargePoint Holdings Inc CHPT, are trading higher as the market rebounds while investors continue to weigh concerns over yields, inflation and future Fed tapering as well as economic sentiment going into 2022.
The broader market has been experiencing a pullback in recent sessions after the 10-year US Treasury yield reached a two-year high, which has pressured valuations.
Plug Power is trading lower by 22% on a year-to-date basis, while ChargePoint is lower by 26% on a year-to-date basis.
See Also: Why Peloton Shares Are Plummeting Today
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.