NKLA - Why Shares of Plug Power Are Surging Higher Today
Markets are off to a strong start this week as the S&P 500 , Dow Jones Industrial Average , and Nasdaq are all rising higher. Investors are especially charged up about fuel cell specialist Plug Power (NASDAQ: PLUG) though. Besides a positive announcement from Plug's new partner Nikola (NASDAQ: NKLA) , investors are clicking the buy button in response to an article from Barron's this weekend.
As of 11:14 a.m. ET, shares of Plug Power are up 7.8%.
Nikola reported today that it has received a letter of intent for an order of 100 heavy-duty Class 8 Tre hydrogen fuel cell electric vehicles from GP Joule. Investors are particularly interested in the announcement since Plug Power and Nikola inked a hydrogen supply agreement in December.
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Why Shares of Plug Power Are Surging Higher Today