Why Plug Power Shares Are Rising Today

Plug Power Inc NASDAQ:PLUG shares are trading higher by 63.97% at $16.51 as the market rebounds following previous losses stemming from concerns over inflation, Fed policy tightening, oil prices and notable earnings reports. This has caused investors to worry about economic growth, which is correlated to the industrial sector.

Plug Power shares are otherwise trading lower by 39.84% over the trailing month amid overall market weakness as investors digest the latest US inflation data, which came in higher-than-expected.

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Plug Power is building an end-to-end green hydrogen ecosystem - from production, storage and delivery to energy generation.

According to data from Benzinga Pro, Plug Power has a 52-week high of $46.50 and a 52-week low of $12.70.