PLUG - Why Plug Power Stock Is Seeing Blue Skies | Benzinga
Plug Power Inc (NASDAQ:PLUG) shares are trading higher by 5.6% to $2.84 during Thursday’s session. Shares of EV-related stocks are trading higher following recent CPI Data. The Department of Energy also announced a $1.7 billion to convert 11 shuttered or at-risk auto facilities to manufacture electric vehicles and their supply chain.
The lower-than-expected inflation report increases the likelihood of the Federal Reserve cutting interest rates sooner rather than later. Lower interest rates generally reduce the cost of borrowing for companies, which can be particularly beneficial for capital-intensive industries like clean energy.
For Plug Power, this means potentially lower financing costs for expansion, research and development and other operational needs.
Lower inflation and the anticipation of rate cuts often lead to a more favorable investment climate for growth stocks, including ...