Plug Power PLUG Stock Rockets to 52-Week High on Hydrogen Breakthrough – Is the Rally Sustainable?
Plug Power closed at $2.83 on Oct 2, down 3.41%, with trading volume surging to 121 million shares. The U.S. Department of Energy canceled $75 million in planned hydrogen grants for the company, citing lack of alignment with national energy needs. Plug delivered its first 10 MW electrolyzer to Galp’s Sines Refinery in Portugal and reported record hydrogen output at its Georgia plant in August.