What's Going On With Plug Power Stock?

Plug Power Inc PLUG shares are surging on Thursday, staging a strong recovery after a significant sell-off last week.

What To Know: The rebound comes following the hydrogen fuel cell company’s participation in two key investor conferences, in what investors are likely interpreting as a proactive approach to engaging with the financial community.

On Tuesday, Plug executives presented at the J.P. Morgan Energy, Power, Renewables & Mining Conference in New York. CEO Andy Marsh also participated in the Roth 15th Annual London Conference on Wednesday. The company stated these appearances reinforced its strategic priorities and long-term growth plans.

The positive momentum this week follows a turbulent prior week for the green energy sector. Plug Power’s stock, along with its peers, tumbled last week after a draft tax bill in the U.S. Senate proposed an accelerated phase-out of clean energy tax credits established under the Inflation Reduction Act.

This news overshadowed positive developments for Plug earlier in June, including an expanded partnership for a major green chemical plant in Uzbekistan and significant open-market share purchases by its CFO, Paul Middleton.

This week’s rebound suggests investor focus is shifting back to the company’s growth prospects despite potential policy headwinds.

Price Action: According to data from Benzinga Pro, PLUG shares are trading higher by 15.1% to $1.25 Thursday morning. The stock has a 52-week high of $3.34 and a 52-week low of $0.69.

Read Also: Plug Power Analyst Ratings

How To Buy PLUG Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Plug Power’s case, it is in the Industrials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

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